Leverage points in the financial sector for seafood sustainability

Who owns reefer vessels? Uncovering the ecosystem of transshipment in fisheries

A central barrier to effective governance and accountability in fisheries is the limited transparency of corporate ownership. Transshipment-the transfer of catches, fuel, parts, or crew between fishing and cargo vessels known as reefers-is often criticized for its opacity and poor governance. Better insight into the beneficial ownership of vessels involved in transshipment and their operational patterns could lead to more effective management. Our study presents a publicly accessible database of reefers' owners, operators, and flags. We identified 569 individual reefers and found that Russian and Chinese owners control 26 and 20% of the global reefer fleet, respectively. Results also show that 65% of all reefer vessels fly the flags of Russia, Panama, or China. This high level of consolidation suggests considerable leverage for enhancing transparency and governance. Our findings highlight the potential for reforming existing transshipment practices through collaboration among owners, flag states, fishery regulators, and scientists.

Shaping nature outcomes in corporate settings

Transnational companies have substantive impacts on nature: a hallmark of living in the Anthropocene. Understanding these impacts through company provision of information is a precursor to holding them accountable for nature outcomes. The effect of increasing disclosures (of varying quality) is predicated on 'information governance', an approach that uses disclosure requirements to drive company behaviour. However, its efficacy is not guaranteed. We argue that three conditions are required before disclosures have the possibility to shape nature outcomes, namely: (1) radical traceability that links company actions to outcomes in particular settings; (2) developing organizational routines, tools and approaches that translate strategic intent to on-the-ground behaviour; and (3) mobilizing and aligning financial actors with corporate nature ambitions. While disclosure is key to each of these conditions, its limits must be taken into account and it must be nested in governance approaches that shape action, not just reporting. This article is part of the theme issue 'Bringing nature into decision-making'.

Financial influence on global risks of zoonotic emerging and re-emerging diseases: an integrative analysis

BACKGROUND

Emerging and re-emerging infectious diseases (EIDs), such as Ebola virus disease and highly pathogenic influenza, are serious threats to human health and wellbeing worldwide. The financial sector has an important, yet often ignored, influence as owners and investors in industries that are associated with anthropogenic land-use changes in ecosystems linked to increased EIDs risks. We aimed to analyse financial influence associated with EIDs risks that are affected by anthropogenic land-use changes. We also aimed to provide empirical assessments of such influence to help guide engagements by governments, private organisations, and non-governmental organisations with the financial sector to advance a planetary health agenda.

METHODS

For this integrative analysis, we identified regions in the world where there was evidence of a connection between EIDs and anthropogenic land-use changes between Nov 9, 1999, and Oct 25, 2021, through a targeted literature review of academic literature and grey literature to identify evidence of drivers of anthropogenic land-use change and their association with commodity production in these regions. We only included publications in English that showed a connection between deforestation and the production of one or more commodities. Publications merely describing spatial or temporal land-use change dynamics (eg, a reduction of forest or an increase of palm-oil plantations) were excluded. As we were assessing financial influence on corporate activities through ownership specifically, we focused our analysis on publicly listed companies. Equity data and data about ownership structure were extracted from Orbis, a company information database. We assessed financial influence by identifying financial entities with the largest equity ownership, descriptively mapping transboundary connections between investors and publicly listed companies.

FINDINGS

227 public and private companies operating in five economic sectors (ie, production of palm oil, pulp and wood products, cocoa, soybeans, and beef) between Dec 15, 2020, and March 8, 2021, were identified. Of these 227, 99 (44%) were publicly listed companies, with 2310 unique shareholders. These publicly listed companies operated in six geographical regions, resulting in nine case-study regions. 54 (55%) companies with complete geographical information were included in the countries network. Four financial entities (ie, Dimensional, Vanguard, BlackRock, and Norway's sovereign wealth fund) each had ownership in 39 companies or more in three of the case-study regions (ie, north America, east Asia, and Europe). Four large US-based asset managers (ie, Vanguard, BlackRock, T Rowe Price, and State Street) were the largest owners of publicly listed companies in terms of total equity size, with ownership amounts for these four entities ranging from US$8 billion to $21 billion. The specific patterns of cross-national ownership depended on the region of interest; for example, financial influence on EIDs risks that was associated with commodity production in southeast and east Asia came from not only global asset managers but also Malaysian, Chinese, Japanese, and Korean financial entities. India, Brazil, the USA, Mexico, and Argentina were the countries towards which investments were most directed.

INTERPRETATION

Although commodity supply chains and financial markets are highly globalised, a small number of investors and countries could be viewed as disproportionally influential in sectors that increase EIDs risks. Such financial influence could be used to develop and implement effective policies to reduce ecological degradation and mitigate EIDs risks and their effects on population health.

FUNDING

Formas and Networks of Financial Rupture-how cascading changes in the climate and ecosystems could impact on the financial sector.

Mitigating elasmobranch fin trade: A market analysis for made-to-measure interventions

The unsustainable trade in elasmobranch products, particularly fins, contributes to the decline of elasmobranch populations worldwide. Designing and implementing context-appropriate solutions to mitigate unsustainable trade requires a thorough analysis of markets. Here we assess the market component of the elasmobranch fin trade in the Bay of Bengal, Bangladesh, using a framework designed to analyse wildlife markets. Using a mixed-method approach, we characterised the market to identify the components contributing to unsustainable practices. By-catch retention levels were high leading to the development of a solid market. Trade on fins was prevalent due to a high price, lack of awareness, actors' limited ability to adhere to regulations, and no strategies and incentives to limit fishing mortality. An imbalanced power and financial structure between actors were revealed, with some actors accessing unequal benefits from the market. Impediments for adopting conservation measures by low-access actors (e.g., fishers) with limited decision-making power or resources were evident. We also identified challenges to enforcement primarily due to limited reporting and issues identifying species and products. Fishers noted several socio-ecological, technical, and enforcement issues (e.g., policing instead of meaningful monitoring, punitive measures without facilitating compliance), that will require adequate time and resources to change practices. Lack of opportunities and information to adhere to regulations and increased enforcement has led to conflicts, non-compliance and unwillingness to report catches. The study has significantly strengthened the current understanding of Bangladesh's complex elasmobranch product market while highlighting critical knowledge gaps that must be addressed to inform and improve management decisions. Based on the findings, we recommend targeted actions to respond to the current market for mitigating elasmobranch product trade and moving towards establishing sustainable and ethical trade. Our work has both regional and global significance, given the role of the Bay of Bengal nations in the worldwide elasmobranch product market.

Voluntary commitments made by the world's largest companies focus on recycling and packaging over other actions to address the plastics crisis

Plastic pollution has caused significant environmental and health challenges. Corporations that contribute to the make, use, and distribution of plastics can play a vital role in addressing global plastic pollution and many are committing to voluntary pledges. However, the extent to which corporation voluntary commitments are helping solve the problem remains underexplored. Here we develop a novel typology to characterize voluntary commitments to reduce plastic pollution made between 2015-2020 by 974 companies including the top 300 of the Fortune Global. We find that 72% of these companies have made commitments to reduce plastic pollution. About 67% of companies participating in voluntary environmental programs (VEPs) and 17% of non-VEPs participants made measurable and timebound commitments. However, rather than tackle virgin plastics, most companies target general plastics and frequently emphasize end-of-life controls with a primary focus on recycling. Growing commitments on plastic pollution are made by large and important companies, but significantly more efforts beyond plastic recycling are required to effectively address plastic pollution challenges.

Scientific mobilization of keystone actors for biosphere stewardship

The biosphere crisis requires changes to existing business practices. We ask how corporations can become sustainability leaders, when constrained by multiple barriers to collaboration for biosphere stewardship. We describe how scientists motivated, inspired and engaged with ten of the world's largest seafood companies, in a collaborative process aimed to enable science-based and systemic transformations (2015-2021). CEOs faced multiple industry crises in 2015 that incentivized novel approaches. New scientific insights, an invitation to collaborate, and a bold vision of transformative change towards ocean stewardship, created new opportunities and direction. Co-creation of solutions resulted in new knowledge and trust, a joint agenda for action, new capacities, international recognition, formalization of an organization, increased policy influence, time-bound goals, and convergence of corporate change. Independently funded scientists helped remove barriers to cooperation, provided means for reflection, and guided corporate strategies and actions toward ocean stewardship. By 2021, multiple individuals exercised leadership and the initiative had transitioned from preliminary and uncomfortable conversations, to a dynamic, operational organization, with capacity to perform global leadership in the seafood industry. Mobilizing transformational agency through learning, collaboration, and innovation represents a cultural evolution with potential to redirect and accelerate corporate action, to the benefit of business, people and the planet.

Deep aspirations: towards a sustainable offshore Blue Economy

ABSTRACT

The ocean economy is experiencing rapid growth that will provide benefits but will also pose environmental and social risks. With limited space and degraded resources in coastal areas, offshore waters will be a particular focus of Blue Economy expansion over the next decade. When emerging and established economic sectors expand in offshore waters (within national Exclusive Economic Zones), different potential Blue Economy opportunities and challenges will arise. Following a series of interdisciplinary workshops, we imagine two technically possible futures for the offshore Blue Economy and we identify the actions required to achieve the more sustainable outcome. Under a business as usual scenario the focus will remain on economic growth, the commodification of nature, the dominance of private over public and cultural interests, and prioritisation of the interests of current over future generations. A more sustainable scenario would meet multiple UN Sustainable Development Goals and ensure inclusive economic developments, environmental sustainability, and fair and equitable access to resources and technologies across users, nations, and generations. Challenges to this more sustainable future are a lack of infrastructure and technology to support emerging offshore sectors, limited understanding of environmental impacts, inequitable outcomes, and a lack of planning and governmental oversight. Addressing these challenges will require a shift in societal values, a more balanced allocation of funding to offshore activities, transparency in information sharing between industries and across nations, and adjustment of international legal and institutional mechanisms. The sustainable and equitable offshore Blue Economy we envisage is achievable and provides a unique opportunity to build global capacity and partnership.

Chitosan as a Valuable Biomolecule from Seafood Industry Waste in the Design of Green Food Packaging

Chitosan is a versatile biomolecule with a broad range of applications in food and pharmaceutical products. It can be obtained by the alkaline deacetylation of chitin. This biomolecule can be extracted using conventional or green methods from seafood industry residues, e.g., shrimp shells. Chitin has limited applications because of its low solubility in organic solvents. Chitosan is soluble in acidified solutions allowing its application in the food industry. Furthermore, biological properties, such as antioxidant, antimicrobial, as well as its biodegradability, biocompatibility and nontoxicity have contributed to its increasing application as active food packaging. Nevertheless, some physical and mechanical features have limited a broader range of applications of chitosan-based films. Green approaches may be used to address these limitations, leading to well-designed chitosan-based food packaging, by employing principles of a circular and sustainable economy. In this review, we summarize the properties of chitosan and present a novel green technology as an alternative to conventional chitin extraction and to design environmentally friendly food packaging based on chitosan.

Environmental performance of blue foods

Fish and other aquatic foods (blue foods) present an opportunity for more sustainable diets^1,2. Yet comprehensive comparison has been limited due to sparse inclusion of blue foods in environmental impact studies^3,4 relative to the vast diversity of production⁵. Here we provide standardized estimates of greenhouse gas, nitrogen, phosphorus, freshwater and land stressors for species groups covering nearly three quarters of global production. We find that across all blue foods, farmed bivalves and seaweeds generate the lowest stressors. Capture fisheries predominantly generate greenhouse gas emissions, with small pelagic fishes generating lower emissions than all fed aquaculture, but flatfish and crustaceans generating the highest. Among farmed finfish and crustaceans, silver and bighead carps have the lowest greenhouse gas, nitrogen and phosphorus emissions, but highest water use, while farmed salmon and trout use the least land and water. Finally, we model intervention scenarios and find improving feed conversion ratios reduces stressors across all fed groups, increasing fish yield reduces land and water use by up to half, and optimizing gears reduces capture fishery emissions by more than half for some groups. Collectively, our analysis identifies high-performing blue foods, highlights opportunities to improve environmental performance, advances data-poor environmental assessments, and informs sustainable diets.

Financing a sustainable ocean economy

The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

Bycatch levies could reconcile trade-offs between blue growth and biodiversity conservation

Economic activities in the ocean (that is, the 'blue economy') provide value to society, yet also jeopardize marine ecosystems. For example, fisheries are an essential source of income and food security for billions of people, yet bycatch poses a major threat to marine biodiversity, creating trade-offs between economic growth and biodiversity conservation. This Perspective explores bycatch levies as a market-based instrument for reconciling these trade-offs. We outline the theory and practice of bycatch levies to demonstrate how they could incentivize bycatch prevention and raise revenue for compensatory conservation, provided they are well designed, as part of a policy mix for sustainable and equitable ocean governance. We then explore ways forward for mainstreaming bycatch levies into the blue economy. While compensatory bycatch mitigation has been controversial, increasing adoption of net outcome approaches to biodiversity conservation suggests they could become mainstreamed within the next decade. Bycatch levies could raise billions of dollars towards closing global biodiversity financing gaps, delivering net outcomes for biodiversity under the United Nations Post-2020 Global Biodiversity Framework while enabling blue growth, and moving towards win-wins for economic welfare and biodiversity conservation.

Our future in the Anthropocene biosphere

The COVID-19 pandemic has exposed an interconnected and tightly coupled globalized world in rapid change. This article sets the scientific stage for understanding and responding to such change for global sustainability and resilient societies. We provide a systemic overview of the current situation where people and nature are dynamically intertwined and embedded in the biosphere, placing shocks and extreme events as part of this dynamic; humanity has become the major force in shaping the future of the Earth system as a whole; and the scale and pace of the human dimension have caused climate change, rapid loss of biodiversity, growing inequalities, and loss of resilience to deal with uncertainty and surprise. Taken together, human actions are challenging the biosphere foundation for a prosperous development of civilizations. The Anthropocene reality-of rising system-wide turbulence-calls for transformative change towards sustainable futures. Emerging technologies, social innovations, broader shifts in cultural repertoires, as well as a diverse portfolio of active stewardship of human actions in support of a resilient biosphere are highlighted as essential parts of such transformations.

Deep aspirations: towards a sustainable offshore Blue Economy

Abstract

The ocean economy is experiencing rapid growth that will provide benefits but will also pose environmental and social risks. With limited space and degraded resources in coastal areas, offshore waters will be a particular focus of Blue Economy expansion over the next decade. When emerging and established economic sectors expand in offshore waters (within national Exclusive Economic Zones), different potential Blue Economy opportunities and challenges will arise. Following a series of interdisciplinary workshops, we imagine two technically possible futures for the offshore Blue Economy and we identify the actions required to achieve the more sustainable outcome. Under a business as usual scenario the focus will remain on economic growth, the commodification of nature, the dominance of private over public and cultural interests, and prioritisation of the interests of current over future generations. A more sustainable scenario would meet multiple UN Sustainable Development Goals and ensure inclusive economic developments, environmental sustainability, and fair and equitable access to resources and technologies across users, nations, and generations. Challenges to this more sustainable future are a lack of infrastructure and technology to support emerging offshore sectors, limited understanding of environmental impacts, inequitable outcomes, and a lack of planning and governmental oversight. Addressing these challenges will require a shift in societal values, a more balanced allocation of funding to offshore activities, transparency in information sharing between industries and across nations, and adjustment of international legal and institutional mechanisms. The sustainable and equitable offshore Blue Economy we envisage is achievable and provides a unique opportunity to build global capacity and partnership.

Graphic abstract

The Ocean 100: Transnational corporations in the ocean economy

The ocean economy is growing as commercial use of the ocean accelerates, while progress toward achieving international goals for ocean conservation and sustainability is lagging. In this context, the private sector is increasingly recognized as having the capacity to hamper efforts to achieve aspirations of sustainable ocean-based development or alternatively to bend current trajectories of ocean use by taking on the mantle of corporate biosphere stewardship. Here, we identify levels of industry concentration to assess where this capacity rests. We show that the 10 largest companies in eight core ocean economy industries generate, on average, 45% of each industry's total revenues. Aggregating across all eight industries, the 100 largest corporations (the "Ocean 100") account for 60% of total revenues. This level of concentration in the ocean economy presents both risks and opportunities for ensuring sustainability and equity of global ocean use.

Keystone actors do not act alone: A business ecosystem perspective on sustainability in the global clothing industry

Global industries are typically dominated by a few disproportionately large and influential transnational corporations, or keystone actors. While concentration of economic production is not a new phenomenon, in an increasingly interconnected and globalized world, the scale of the impacts of keystone actors on diverse social-ecological systems continues to grow. In this article, we investigate how keystone actors in the global clothing industry engage in collaboration with a variety of other organizations to address nine interrelated biophysical and socioeconomic sustainability challenges. We expand on previous theoretical and empirical research by focusing on the larger business ecosystem in which keystone actors are embedded, and use network analysis to assess the contributions of different actor types to the architecture of the ecosystem. This systemic approach to the study of keystone actors and sustainability challenges highlights an important source of influence largely not addressed in previous research: the presence of organizations that occupy strategic positions around keystone actors. Such knowledge can help identify governance strategies for advancing industry-wide transformation towards sustainability.

Ensuring a Post-COVID Economic Agenda Tackles Global Biodiversity Loss

The COVID-19 pandemic has caused dramatic and unprecedented impacts on both global health and economies. Many governments are now proposing recovery packages to get back to normal, but the 2019 Intergovernmental Science-Policy Platform for Biodiversity and Ecosystem Services Global Assessment indicated that business as usual has created widespread ecosystem degradation. Therefore, a post-COVID world needs to tackle the economic drivers that create ecological disruptions. In this perspective, we discuss a number of tools across a range of actors for both short-term stimulus measures and longer-term revamping of global, national, and local economies that take biodiversity into account. These include measures to shift away from activities that damage biodiversity and toward those supporting ecosystem resilience, including through incentives, regulations, fiscal policy, and employment programs. By treating the crisis as an opportunity to reset the global economy, we have a chance to reverse decades of biodiversity and ecosystem losses.

Large-Scale Evaluation of Major Soluble Macromolecular Components of Fish Muscle from a Conventional 1H-NMR Spectral Database

Conventional proton nuclear magnetic resonance (¹H-NMR) has been widely used for identification and quantification of small molecular components in food. However, identification of major soluble macromolecular components from conventional ¹H-NMR spectra is difficult. This is because the baseline appearance is masked by the dense and high-intensity signals from small molecular components present in the sample mixtures. In this study, we introduced an integrated analytical strategy based on the combination of additional measurement using a diffusion filter, covariation peak separation, and matrix decomposition in a small-scale training dataset. This strategy is aimed to extract signal profiles of soluble macromolecular components from conventional ¹H-NMR spectral data in a large-scale dataset without the requirement of re-measurement. We applied this method to the conventional ¹H-NMR spectra of water-soluble fish muscle extracts and investigated the distribution characteristics of fish diversity and muscle soluble macromolecular components, such as lipids and collagens. We identified a cluster of fish species with low content of lipids and high content of collagens in muscle, which showed great potential for the development of functional foods. Because this mechanical data processing method requires additional measurement of only a small-scale training dataset without special sample pretreatment, it should be immediately applicable to extract macromolecular signals from accumulated conventional ¹H-NMR databases of other complex gelatinous mixtures in foods.

Anatomy and resilience of the global production ecosystem

Much of the Earth's biosphere has been appropriated for the production of harvestable biomass in the form of food, fuel and fibre. Here we show that the simplification and intensification of these systems and their growing connection to international markets has yielded a global production ecosystem that is homogenous, highly connected and characterized by weakened internal feedbacks. We argue that these features converge to yield high and predictable supplies of biomass in the short term, but create conditions for novel and pervasive risks to emerge and interact in the longer term. Steering the global production ecosystem towards a sustainable trajectory will require the redirection of finance, increased transparency and traceability in supply chains, and the participation of a multitude of players, including integrated 'keystone actors' such as multinational corporations.