A rise in seafood sustainability matched with larger provide chain disclosure may enhance the well being of world’s oceans whereas boosting the profitability of main retailers, an investigation by Planet Tracker has discovered.
In its newest report, “How retailers may be sustainable and worthwhile in seafood,” the assume tank highlights how retailers can use its Seafood Sustainability Protocol to evaluate the sustainability of their seafood merchandise in order to “set up the hyperlink between sustainability and profitability.”
Planet Tracker primarily based its findings on a case examine with French grocery store big Carrefour, one of many world’s largest meals retailers, which analyzed over 4 million non-publicly out there datapoints on seafood purchases from its French websites.
Whereas demonstrating a constructive efficiency or progress on 11 out of 13 key indicators set out by the Seafood Sustainability Protocol, Carrefour was additionally discovered to be producing a few of its lowest profitability margins on gross sales of probably the most overfished species.
Planet Tracker stated the outcomes confirmed that elevated seafood provide chain disclosure, reasonably than being a value for retailers, may as an alternative result in a big improve in revenue for Carrefour.
Elevated seafood provide chain disclosure, reasonably than being a value for retailers, may as an alternative result in a big improve in revenue for Carrefour.
“Meals retailers maintain immense energy relating to the sustainability of our oceans,” stated François Mosnier, head of the oceans program at Planet Tracker. “Anybody shopping for and promoting seafood could make a constructive influence by channelling demand out of unsustainable farming and overexploited wild shares into sustainable administration and manufacturing. In addition to being the appropriate factor to do, it is the business-smart factor to do. Our report discovered important monetary advantages to be gained from sustainable sourcing and enhanced disclosure.”
The report calls on seafood retailers to take 4 actions to reinforce the sustainability of their provide chains, together with figuring out “what stage they’re at within the seafood sustainability journey” and implement sustainable methods to make additional progress. Planet Tracker additionally urges retailers to enhance the transparency of their seafood provide chains, together with setting a time-bound goal on full seafood traceability. Retailers ought to then monitor and report their progress over time.
The Carrefour case examine was carried out in collaboration with BNP Paribas AM and the agency’s ESG Analyst and Biodiversity Lead, Robert-Alexandre Poujade, described overfishing as a “socio-environmental menace that most people is conscious of, however traders haven’t taken sufficient steps to know.”
“This mission by Planet Tracker was born to rectify this,” Poujade stated. “Most massive traders like BNP Paribas Asset Administration are uncovered to the seafood worth chain by way of downstream actors, akin to retailers or catering and have to take measures to cut back their contribution to the issue and protect marine biodiversity.”
The report calls on traders to interact with the businesses they fund to demand larger seafood provide chain disclosure, adjustments to seafood sourcing insurance policies in the direction of extra sustainable choices, and the setting of “time-bound targets on seafood traceability.”