The plateauing of wild-capture fisheries has put a strong onus on aquaculture to meet most of the market’s increasing need for seafood products. Again, the FAO has evidenced that the industry is rising to the challenge and growing faster than any other major food production sector. Indeed, the human consumption of farmed fish and shrimp has already eclipsed that of products from wild fisheries and it is projected that by 2030, 60% of the seafood we consume will be farm produced, based on a total global harvest of 110 million tonnes.
In a report released in 2020 commissioned by the High Level Panel for a Sustainable Ocean Economy, titled Ocean Solutions that Benefit People, Nature and the Economy, it is stated that the ocean is capable of producing six times more seafood in a sustainable way by 2050, with a significant potential to expand ocean aquaculture if farms avoid adversely affecting surrounding ecosystems and use fish feed that is not made from wild caught fish.
As a signatory to the United Nations Global Compact Sustainable Ocean Principles, we recognise the urgency and global importance of a healthy ocean, and will take action to promote the well-being of the ocean for current and future generations. The Sustainable Ocean Principles provide a framework for responsible business practices across sectors and geographies. They build upon and supplement the Ten Principles of the United Nations Global Compact on human rights, labour, environment and anti-corruption.
