The FAIRR Initiative has launched the Coller FAIRR Seafood Index, a new benchmark assessing how the world’s largest seafood companies are managing the environmental, social and health impacts of their operations.

Backed by investors representing US$95tn in assets, the index evaluates 20 of the world’s biggest listed seafood companies, many supplying major retailers including Tesco, Sainsbury’s, Morrisons, Lawson JP, Casino and Ahold Delhaize.

seafood

Source: Mercator

The new Coller FAIRR Seafood Index benchmarks seafood companies’ ESG and welfare credentials

The assessment examines how companies are addressing issues including pollution, modern slavery, food safety, animal welfare and traceability, while also evaluating preparedness for future sustainability risks and opportunities.

The findings reveal companies perform more strongly on social risks than environmental challenges. Across social issues, including worker wellbeing and child labour, firms scored an average of 39 out of 100. Environmental topics averaged just 25 out of 100, with pollution identified as the weakest area at 19 out of 100.

Norwegian seafood company Mowi achieved the highest score for social risk management at 69 out of 100, while wholesale supplier Sysco ranked lowest across environmental topics with a score of six.

The report also found seafood companies scored poorly on sustainable product innovation and traceability, averaging 11 out of 100 and 27 out of 100 respectively. FAIRR warned this leaves consumers exposed to seafood mislabelling and potentially illegally caught products.

Max Boucher, head of nature programmes at FAIRR, said the findings highlighted major sustainability risks across the sector.

“Whether it’s IUU fishing, overfishing or issues of disease and pollution management in farmed seafood, it’s clear that there’s a lot of work to do to ensure seafood contributes sustainably to global food security and resilience,” he said.

Boucher added that investors need better tools to assess the financial risks linked to seafood supply chains.

“The Seafood Index is a leap towards the more sophisticated identification of the sector’s social and environmental risks and opportunities with a forward-looking view on whether companies are really taking action,” he said.

FAIRR said the index is designed to support both investors and seafood companies by identifying areas requiring improvement and encouraging greater transparency across the sector.

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