Sustainable finance is critical to scaling the transition towards more sustainable fisheries. New sustainable, efficient, equitable, and cost-effective models are needed to lead the way towards the establishment of a sustainable blue economy. To respond to this need, World Wildlife Fund (WWF), in partnership with Finance Earth (FE) and through a multi-stakeholder collaboration, designed and launched a new financing mechanism aimed at fishery transition. Finance Earth, a leading impact investment advisory and fund manager with a track record in break-through social and environmental financing models, will establish and manage this new mechanism – the Fisheries Improvement Fund (FIF). The ambition is to catalyze more than $100 million in investment in fisheries improvement by 2030. This model, designed in collaboration with leading industry players, will unlock new pathways to fund global fisheries recovery at a scale that can match the size of the challenge.
Getting the word out about your commitments and the successes that have resulted from your sustainability work can have significant effects. It gives you a chance to show your shareholders and customers where and how you are sourcing, demonstrating that you have strong oversight of your supply chain. It also reinforces that you care about the environment and the fishing and farming communities whose livelihoods sustainable fisheries and responsible farms can help protect for the long term. And it indicates to the wider industry that this isn’t just a trend—it’s the wave of the future, and your company is a part of that wave.
HOW TO SHARE YOUR SUCCESS
Report Progress, Prioritize Transparency
Publicly report on your sustainability commitments for your seafood products, encompassing both environmental and social goals. Be transparent about which standards qualify for commitments, the commitment, and how commitment progress will be verified. Report all this annually to credibly communicate progress. Always be fully open when reporting on your progress, covering both successes and areas that still need adjustment or improvement. When you publicly acknowledge accountability, it can substantially influence and improve the performance of all actors across the supply chain. Report year over year progress towards reaching commitment goals.
Educate Your Internal and External Stakeholders
Communicating through your company’s website, social media, newsletter, and blog is great. But don’t stop there. Find and use other communications platforms that will allow you to reach industry players, investors, consumers, and NGO partners along with their members. And remember to use creative in-store and digital marketing to promote your efforts and the benefits of more sustainable, responsible sourcing.