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| marine_colab:sustainable_seafood_finance_initiative [2015-07-07 10:21] – created nik | marine_colab:sustainable_seafood_finance_initiative [2015-08-10 20:27] (current) – timbo | ||
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| - | ==== Sustainable Seafood Finance Initiative ==== | + | ==== Sustainable Seafood Finance Initiative |
| - | | + | A collection of notes related to the [[transparency experiment]] and [[transparency initiatives]] |
| + | Other notes on [[Sustainable Seafood]] | ||
| - | **Transparency projects** | ||
| - | **Sustainable Seafood Finance Initiative (SSF)** | + | ====Overview and context==== |
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| - | **Overview and context** | + | |
| The SSF Initiative seeks to use the leverage of financial institutions (FIs) as a way to improve the transparency and sustainability performance of international seafood companies. FIs are supported to better identify and manage risks (particularly in relation to overfishing and IUU fishing) across their seafood investment portfolio and to apply sustainability criteria in their investment decision making to catalyse improvements in the companies that they invest in. | The SSF Initiative seeks to use the leverage of financial institutions (FIs) as a way to improve the transparency and sustainability performance of international seafood companies. FIs are supported to better identify and manage risks (particularly in relation to overfishing and IUU fishing) across their seafood investment portfolio and to apply sustainability criteria in their investment decision making to catalyse improvements in the companies that they invest in. | ||
| - | **Methods** | + | ====Methods==== |
| This project is currently in a pilot phase. Consultations with FIs, seafood companies and NGOs have led to the collaborative design of a Toolkit for use by FI's in partnership with seafood companies. Testing of the transparency tool is now underway between Rabobank and one if its major seafood client companies. The SSF Toolkit is composed of the: | This project is currently in a pilot phase. Consultations with FIs, seafood companies and NGOs have led to the collaborative design of a Toolkit for use by FI's in partnership with seafood companies. Testing of the transparency tool is now underway between Rabobank and one if its major seafood client companies. The SSF Toolkit is composed of the: | ||
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| - | **Data accessibility and availability** | + | ====Data accessibility and availability==== |
| The data disclosed during the use of the SSF Toolkit will be confidential between the FI and seafood company. However, it is expected that using the SSF Toolkit will increase the willingness of seafood companies to become more transparent. Most FIs see public transparency as a key element of the sustainability performance of their clients and will pressure them in that direction. | The data disclosed during the use of the SSF Toolkit will be confidential between the FI and seafood company. However, it is expected that using the SSF Toolkit will increase the willingness of seafood companies to become more transparent. Most FIs see public transparency as a key element of the sustainability performance of their clients and will pressure them in that direction. | ||
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| In the event of the development of Seafood Transparency Index, the data obtained would be made public, and presented to allow a comparison of the sustainability performance of seafood companies. | In the event of the development of Seafood Transparency Index, the data obtained would be made public, and presented to allow a comparison of the sustainability performance of seafood companies. | ||
| - | + | ====Results==== | |
| - | **Results** | + | |
| A first pilot is currently underway and the results are pending. Other banks have shown interest in the SSF Toolkit, but remain cautious. Outcomes of the SSF to date suggest an increased awareness of FIs on the risks posed by IUU (to marine ecosystems and their investments) and by human trafficking and slavery at sea. The interest/ | A first pilot is currently underway and the results are pending. Other banks have shown interest in the SSF Toolkit, but remain cautious. Outcomes of the SSF to date suggest an increased awareness of FIs on the risks posed by IUU (to marine ecosystems and their investments) and by human trafficking and slavery at sea. The interest/ | ||
| - | **Advantages** | + | ====Advantages==== |
| *FIs are increasingly applying sustainability criteria to their lending decisions and are expressing interest to increase the sophistication of current binary decision making tools. | *FIs are increasingly applying sustainability criteria to their lending decisions and are expressing interest to increase the sophistication of current binary decision making tools. | ||
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| *Current emphasis of the SSF is on wild capture fisheries, but interest has been expressed to look at the potential of this Toolkit to be adapted to aquaculture investment portfolios. | *Current emphasis of the SSF is on wild capture fisheries, but interest has been expressed to look at the potential of this Toolkit to be adapted to aquaculture investment portfolios. | ||
| - | **Challenges/ | + | ====Challenges/ |
| *The lack of transparency itself is a significant challenge. The large international seafood companies are in general privately owned, and are not required to be transparent about their operations at sea, including their sustainability performance, | *The lack of transparency itself is a significant challenge. The large international seafood companies are in general privately owned, and are not required to be transparent about their operations at sea, including their sustainability performance, | ||
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| - | **Partners: **Fauna & Flora International, | + | **Partners: |
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