When union means strength

Business team showing unity with their hands together in sunny office. Group of people joining hands and representing concept of friendship, teamwork and partnership.
Business team showing unity with their hands together in sunny office. Group of people joining hands and representing concept of friendship, teamwork and partnership.

Whether due to a global pandemic, war, or economic instability, there will be always major threats to global food and nutrition security and countries' food systems. Therefore, there is an increasing need to seek an integrated approach to reverse the negative implications on dietary intake and nutritional status.

Today, we are going to look at how engaging retailers, brands, and food service companies to drive action across their seafood supply chains can reduce the environmental impacts of fishing and fish farming. Besides, protect ocean biodiversity, address social issues in fisheries, and promote economic opportunities for fishers and their communities.

Is what we call strategic partnership agreements or collaborations between companies, governments, or other kinds of entities of other natures. Thereby, we can add value to the product or service by expanding what we have to offer.

Empowering small-scale fisheries

By taking advantage of aquaculture innovation, experience and flexibility we can give smaller parties more voice. Especially for its development and influence in the sector.

A clear example of this is the function of the Sustainable Fisheries Partnership (SFP). A US-registered nonprofit that operates globally to rebuild depleted fish stocks and reduce the environmental impact. "Partnership and collaboration are vital", pray on its website.

Among its main strategies, we can find training fishers and supply chains to actively engage in fishery improvement projects that advance co-management. Also, promoting co-management through government-led policy dialogues. These enable fishers to have a voice in fisheries management at all relevant levels of decision-making.

Finally, it coordinates in-country support for co-management, including fishers, supply chain participants, civil society, and other stakeholders. Moreover, SFP promotes socially responsible seafood production by helping their partners and seafood companies understand the problems and find solutions.

Faster technical implementation

Also, collaborations can help to bridge the gap between infrastructure and service needs. Like the Iceland Ocean Cluster's initiative, that made possible the Danish Ocean Cluster in Denmark. In collaboration with the Port of Hirtshals and the North Sea Science Park. This new cooperation was relevant for Denmark and Danish companies to heighten their international perspective within the circular blue economy.

Regarding this, Karl Henrik Laursen CEO of the North Sea Science Park said: "We will be able to benefit from the great experience that Iceland Ocean Cluster and other North Atlantic clusters are disposed of. We look forward to the cooperation. Also, to being part of the cluster and high level of expertise that exists here."

Increase of investment

On the other side, this strategy can palliate capital costs. In addition, help to bridge the gap between infrastructure and service needs. The private sector can often earn extra revenues from third parties and create incentives to develop new technologies and services.

Precisely, the Spanish Aquaculture Business Association (APROMAR) and ABANCA agreed on financing formulas to implement more efficient technologies. Further, to the development of new facilities. Moreover, the Spanish bank created ABANCA Mar. A subsidiary focused on the needs of the entire value chain of the aquaculture industry.

ABANCA Mar proposes a commercial formula, which puts together the extensive accumulated knowledge of the sector. Along with customized products and specialized managers focused on the needs of companies and professionals.

A faster path to sustainability

Because the sector aims to be responsible for building, maintaining, and operating new sustainable infrastructures, partnerships can minimize costs and most importantly save time. Besides, companies that specialize in different matters may benefit from each other for a common purpose.

A few days ago, Ocean 14 Capital confirmed an investment in AION to scale commercial solutions to mitigate the plastic pollution problem. The agreement, carried out by Ocean 14 Capital and Aker BioMarine, will be financed through a NOK 40 million convertible loan facility.

"Our mission at AION is scaling circular plastics with a digital platform tracing materials and products in industry. We are excited to partner with Ocean 14 and their coming contributions to our continued journey", confirmed Runa Haug Khoury, CEO in AION.

Furthermore, Nutreco and Skretting agreed to ensure that by 2025, Skretting is sourcing 100% marine ingredients for its global operations. As well as ensuring that all fishmeal and fish oil used to produce feed comes from fisheries managed following the FAO Code of Conduct for Responsible Fisheries.

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