From the left: Matts Johansen, CEO of Aker BioMarine and Chair of Aker QRILL Company; Jennifer Jordan‑Saifi, M.V.O., MBA, CEO of the Sustainable Markets Initiative; and Rupert Howes, CEO of the Marine Stewardship Council.
Photo: Aker QRILL Company.
Two days after the historic High Seas Treaty came into force—the first legally binding international agreement to safeguard marine life in international waters—King Charles' Sustainable Markets Initiative (SMI) launched the Ocean Stewardship Initiative, developed in collaboration with Aker QRILL Company and its sister company—both independent companies since November 2024—Aker BioMarine, with advice from the Marine Stewardship Council (MSC).
Founded by King Charles III as Prince of Wales and characterized by its unique brand of 'private sector diplomacy', the Sustainable Markets Initiative is the world's go-to private sector organization for sustainable transition. And it is precisely through this private sector engagement that the Ocean Stewardship Initiative's first goal is to support the establishment of one of the world's largest Marine Protected Areas in Antarctica.
The project creates a structured platform for constructive private engagement with governments and civil society with the aim of translating global ocean commitments into practical actions, while balancing conservation with the sustainable use of marine resources.
In this case, Antarctic krill in particular, a key marine ingredient in aquaculture feed for salmon and other species such as sea bream, sea bass, tilapia, and olive flounder, and the basis of the activities of both Aker QRILL Company and Aker BioMarine.
As mentioned above, the Ocean Stewardship Initiative's first goal is to create a large-scale Marine Protected Area (MPA) covering 70% of the Antarctic Peninsula. If successful, the MPA will be established alongside a modern, science-based krill fisheries management framework that will increase ecosystem monitoring and distribute fishing effort in the area that remains open and regulated for fishing.
In line with the Sustainable Markets Initiative's philosophy of mobilizing private sector participation in support of effective ocean governance, encompassing marine protection and science-based fisheries management, the Ocean Stewardship Initiative has been developed, as mentioned, in partnership with Aker QRILL Company and Aker BioMarine.
Leaders in sustainably harvesting Antarctic krill and developing krill ingredients and products for human health, nutrition, aquaculture, and animal feed, together, the two companies operate the world's only vertically integrated krill value chain, from sustainable harvesting in the Southern Ocean to finished products reaching customers worldwide.
Likewise, the Initiative also receives advice from the Marine Stewardship Council, as known, an international non-profit organization which sets globally recognised standards for sustainable fishing and the seafood supply chain.
Thus, the first delivery track of the initiative builds on the long-standing international efforts under the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) the Argentina–Chile initiative, which aims to protect 455,957 km² of ocean — nearly 70% of the Antarctic Peninsula, as said above — including krill spawning grounds and key habitats for penguins, seals, and whales. Both Aker QRILL and Aker BioMarine announced their support for this initiative back in September.
If approved, the MPA as proposed in CCAMLR by Argentina and Chile would be among the world's largest no-take zones and protect Antarctic mammals. In addition, the proposal would increase the total area of the Antarctic Ocean protected by up to 15%, making a significant contribution to the global commitment to protect 30% of the ocean by 2030.
According to the release issued on the occasion of the launch of the Ocean Stewardship Initiative, Antarctica will serve as a proof point to develop a transferable industry playbook applicable to other regions and fisheries from 2027 onward.
By demonstrating success through industry leadership in Antarctica, the Initiative will create a model for accelerating improvements in fisheries management and the implementation of MPAs globally, enabling companies to engage with governments and other stakeholders to identify solutions and achieve meaningful results. However, it also recognizes that lasting results depend on alignment across sectors.
"The private sector has a decisive role in shaping the Ocean economy," said Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative. "Governments set the rules, but delivery depends on capital, companies and supply chains moving in the same direction with a default sustainable mindset."
"This initiative is about private sector leadership aligning Ocean-based value creation with conservation, sustainable fisheries management, and meeting the world's 30 x 30 target. Our hope that private sector support for the CCAMLR MPA and krill fisheries management framework can serve as a model for similar efforts around the world," she added.
As the statement highlighted, the effort behind this Initiative is based on years of work by governments, scientists, non-governmental organizations, and fishing companies to improve fisheries management and advance marine protection, recognizing that greater coordination is needed to accelerate large-scale implementation.
Furthermore, the Initiative arises in a context of growing geopolitical uncertainty, which, according to its promoters, underscores the need for industry to play a stronger role in translating commitments into action.
In the statement, the industry's point of view is presented by Matts Johansen, president of Aker QRILL Company and CEO of Aker BioMarine. "For fishing companies, this is no longer a question of whether Marine Protected Areas will happen," he said. "The real question is whether industry chooses to engage constructively, and be part of the solution, or remain on the sidelines while the rules are shaped without its involvement."
In a subsequent statement on his personal LinkedIn profile, Johansen explained his impressions during the meeting at Windsor Castle to discuss how the industry can play a more active role in finding sustainable solutions that balance extraction and protection in the oceans, which he attended alongside Aker's Chairman, Kjell Inge Røkke, and other leaders from the fishing industry.
"During the meeting, it became clear that the fishing industry has a low appetite for this type of engagement. Sticking one's neck out is more often punished than rewarded, and as a result the solution is often to keep one's head down and stay still," he wrote.
"At Aker BioMarine ASA and Aker QRILL Company, however, we have always chosen to engage," Matts Johansen continued. "We are therefore proud that we have now gained a strong partner to support us in continuing this important work in Antarctica."
On behalf of the third party involved in the Ocean Stewardship Initiative, the Marine Stewardship Council, its CEO, Rupert Howes, took the floor to comment on what this initiative means. "Effective Ocean management requires stewardship of the entirety of our Ocean built on science, transparency and accountability," he stated.
"Strong protection measures and well-managed fisheries go hand in hand, and both are essential to the future of the Ocean. Given the unique ecological importance of the Southern Oceans, there is a compelling case for this government-proposed MPA with multistakeholder support from both industry and NGOs," Howes added.