The Science Based Targets Initiative (SBTi) has released a new guide for seafood companies that promotes emissions reductions targets. The companies involved are Lerøy Seafood Group, Grieg Seafood, and Nomad Foods.
The initiative is a collaboration between Carbon Disclosure Project (CDP Worldwide), the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and We Mean Business Coalitions.
Thereby, the guide presents best practices, common challenges, and solutions for both fishing and aquaculture companies. Additionally, it details financial incentives and risk mitigation for setting these targets.
According to SBTi, "many land-based protein sources, still must do more to limit global warming. Global temperature increases are impacting the biological side of the seafood industry. They change aquatic chemistry, ocean circulation, sea level, and ice distribution. Also, they increase sea temperatures – which impact fish biology such as digestion, an immune reaction to disease, and reproduction."
Furthermore, Lerøy stated "many companies' boards need to be educated on why and how they should achieve sustainability in the seafood industry. From a business perspective, sustainability is not just for looking good and reducing emissions, but it also means competitive advantage for the firm".
Finally, "more-efficient production methods save seafood businesses money and creates supply-chain mapping for streamlined systems. It provides an opportunity for pre-competitive collaboration of participating seafood companies to learn from one another about mitigation strategies and make progress at a greater pace" SBTi concluded.
