Iceland announces grants for minimizing aquaculture environmental impacts

The Icelandic Environmental Fund of Aquaculture has announced the opening of the deadline to apply for research and project grants to support its goals of minimizing the environmental impacts caused by aquaculture. The funds are open to both aquaculture companies and institutions or individuals - natural or legal -, and interested parties have until 4 p.m. on April 5, 2024, to submit their applications.

Projects related to escape prevention will be a priority

"The fund's objective is to finance projects that aim to adapt aquaculture in the country to the prevailing environmental conditions and thus minimize the environmental impacts of aquaculture," the Environmental Fund of Aquaculture states on its website. 

The role of the Fund is primarily to cover the costs of research on carrying capacity and monitoring, but it may also finance other projects if so determined by the Fund's Board. For the 2024 call, the financial allocation amounts to ISK 185.7 million - this is EUR 1.2 million (USD 1.34 million).

Although state-owned under the jurisdiction of the Minister of Fisheries, the Icelandic Environmental Fund of Aquaculture is independent, operating under Act No. 71/2008 on Aquaculture. The Fund's Board evaluates all applications received, prioritizes projects, and determines the amount of funding for each, as stipulated in Article 11 of Regulation No. 874/2019.

Projects are selected according to these legislations, but the Board's priorities at any given time also play a key role in funds' allocation. Thus, for the 2024 allocation, the Board has already warned since the call that, although it will have the statutory role of the Fund as the basis for the allocation, it will also give special consideration to "projects related to measures to prevent escapes of farmed fish and minimize their consequences."

Stakeholders will be able to consult the projects' results

Iceland's concern about escapes is not new. As part of its commitment to sustainability and the environment, in 2004, when the salmon industry was reactivated in the country, all production areas were located in the East and West Fjords because there are no salmon rivers in those areas where escaped farm fish could genetically mix with wild salmon stocks.

However, following the accidental escape of salmon from an Arctic Fish facility in August - which was even investigated by the police, although they eventually dropped the investigation as they felt there was no basis for continuing it - fish escapes became a source of national debate in the country. So much so that, in October, the Icelandic Parliament approved additional funds to develop oversight of the aquaculture industry.

These additional funds - ISK 2.2 billion (EUR 15 billion - USD 15.9 billion) - were earmarked for monitoring by the authorities. The grants now offered by the Icelandic Environmental Fund of Aquaculture are for such monitoring to be extended to all stakeholders in the sector and for the entire industry to benefit. To this end, the results of the subsidized research projects will be made available in consultation with stakeholders and according to demand.

Likewise, the Environmental Fund reminds that grant recipients must not only account for the results of their projects with a final report but must also submit information on their status at least every six months and may be required by the Board to report on them at any time. It is even contemplated that if there is a "significant, unexplained delay" in project progress or submission of final reports, reimbursement of the grants may be required.