Boosting Ocean Sustainability with New World Initiatives
Efforts to put the world’s oceans on a pathway towards sustainability has seen a recent incline with the announcements of recent initiatives.
Friends of the Ocean
CEOs of 10 of the largest seafood companies in the world behind the Seafood Business for Ocean Stewardship (SeaBOS) initiative have plans to increase their efforts to strengthen sustainable practices in the seafood industry.
Said initiatives will address key topics affecting ocean health and seafood sustainability, including illegal, unreported and unregulated fishing, and commitment to improving transparency in reporting, to substantially reduce use of antibiotics in aquaculture and plastic materials in supply chains.
Norway on Ocean Sustainability
In Norway, the world’s richest government-owned investment fund has called on companies it invests into, to integrate ocean sustainability into their strategy.
Oslo-based Norges Bank Investment Management, whose fund value reached a record $1-trillion in 2017, said many companies in its investment portfolio depend on the ocean as part of their business model.
It now requires them to integrate measures that will help to identify and minimize the impact of their activities on the ocean.
The growing global population means that the world needs more resources and services from the oceans, such as food, energy, medicines, minerals and transport. The intention behind this initiative is to increase international awareness of the fact that sustainable use of the oceans and the maintenance of good environmental status can lead to significant value creation, and can enable us to meet some of the world’s most vital needs in the years to come.
Aquaculture for Global Health
With our growing population – 8.3 billion expected by 2030 – we need 50% more energy, 40% more water and 35% more food than we currently produce today. The global demand for seafood continues to rise and is expected to double by 2050 as a source of high quality protein. Farmed seafood has already surpassed 50% of global supply of consumed seafood. As such, sustainable farmed seafood is becoming the solution to the world’s food problem.