Investment group Aviva calls for sustainability improvements in seafood industry

Aviva Investors, the global asset management firm, has issued a new report in conjunction with Sustainable Fisheries Partnership calling for more action to increase the sustainability of the seafood industry.

The firm, which manages assets valued at more than GBP 290 (USD 411 billion, EUR 366 billion), released the report on United Nations' World Oceans Day and specifically targeted its messages to investors.

“Investors must do more to push seafood companies to adopt progressive policies that enhance the sustainability of fishing and fish farming and reduce the potential for environmental and human rights abuses,” the report said. “Sustainable policies are critical to the long-term future of the seafood industry. [They are] also central to the financial success of individual companies because social and environmental risks can damage their profitability at any stage in the supply chain.”

The report notes the market value of the world’s marine and coastal resources is estimated at USD 3 trillion (EUR 2.7 trillion) per year, or around five percent of global GDP, and that about 2.6 billion people depend on ocean-raised food as their primary source of protein.

In a press release, Aviva announced it has joined investor group Principles for Responsible Investment, which is backed by the United Nations. The group will seek to “positively engage with companies and steer them towards more sustainable strategies to improve business performance and minimize environmental and social risks.”

The group will call on companies to adopt responsible seafood policies and to make every effort to ensure producers avoid seafood tainted by illegal, unreported and unregulated fishing.

Robeco, PGGM, BMO, Legal & General and Öhman have also joined Principles for Responsible Investment Group as founding members, according to the announcement.

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