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Report Urges Investors to Encourage Sustainable Fishing

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Aviva Investors and the Sustainable Fisheries Partnership have collaborated to create a report on sustainable fishing and fish farming. The report suggests that investors need to do more to encourage seafood companies to improve the sustainability of the industry and reduce the risks to the environment and human rights. The report offers guidance on how investors could go about helping seafood companies to make these changes.

Launched to coincide with the United Nation’s World Oceans Day, 2016, the report argues that overfishing has significantly reduced stocks, while the demand for food production rises to cater for the world’s growing population. Given these dynamics, sustainable policies are critical to the long-term future of the seafood industry. It is 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.

There is much at stake. According to the United Nations, the livelihoods of over three billion people depend on marine and coastal diversity, and 2.6 billion people count the oceans as their primary source of protein. The market value of the world’s marine and coastal resources is estimated at $3 trillion per year, or around five percent of global GDP.

Rapid and unchecked expansion has already proved disastrous for the Chilean farmed salmon industry. First gaining public attention in June 2007, Infectious Salmon Anaemia spread quickly through supplies, not helped by large concentrations of salmon pens that facilitated the transfer of the disease. New practices and legislation have been introduced, but this was too late for the farmers that lost billions of dollars in revenue following the contagion.

The Thai seafood industry has suffered reputational damage in recent years through extreme violations of basic human rights for workers on its fishing vessels. Consumer-facing brands in the US and Europe that buy Thai seafood have had to work hard to retain the confidence of customers that their products are not associated with people trafficking and slavery.

United Nations statistics about global oceans can be found here.

The report highlights ways in which investors can positively engage with companies and steer them towards more sustainable strategies to improve business performance and minimize environmental and social risks.

UN supported investor group Principles for Responsible Investment (PRI) is lending further support to the aim through a collaborative engagement campaign with an initial 10 companies. Aviva Investors, Robeco, PGGM, BMO, Legal & General and Öhman are among the investors supporting the initiative.

The report advocates the following action by investors:

  1. Laying early foundations for responsible policies: Investors should work with companies to formulate and adopt a responsible seafood policy from the outset of the association. This should demonstrate a commitment to continuous improvement and transparency, with ambitious targets for the future.
  2. Influencing the supply chain: Investors should encourage supply chain companies to ensure producers avoid fish that are illegally caught; support well-managed fisheries and fish farms that are certified to credible standards; support the responsible management of aquaculture resources across regions; and encourage fisheries that are trying to improve.
  3. Ask material questions: The report sets out questions investors should put to companies to gauge the level of responsibility and sustainability already built into their operations and to ascertain areas for development.

Abigail Herron, Head of Responsible Investment Engagement at Aviva Investors, said: “During engagement, the business case for sustainable fisheries should be made from an environmental, social, governance and financial perspective.  Bribery, corruption and a rabbit hole of shell companies often go hand in hand with illegal, unreported and unregulated fishing. Given the rapid and continual decline of fish stocks, many current fishery practices and management systems are simply not fit for purpose and need to be urgently addressed through engagement.”

Jim Cannon, CEO of Sustainable Fisheries Partnership, said: “Working to achieve sustainable sourcing is an essential activity for any company that uses marine resources and an important indicator of responsible behaviour. Sustainable Fisheries Partnership is actively supporting transparency in the seafood industry as well as advising companies on creating, implementing and communicating sustainable sourcing policies.”

Fiona Reynolds, Managing Director of the PRI, said: “A rising world population means that producing food in sustainable ways is absolutely vital. Investors can play an important role in engaging seafood companies on their environmental and human rights impacts, and, in so doing, help to ensure the sustainability of food production both now and for the benefit of future generations.”

Please find a link to the full report here

Environment

4 Common Items That Can be Reused Again and Again

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reuse reduce recycle plastic bottles etc
Shutterstock Licensed Photo - By Vanatchanan | https://www.shutterstock.com/g/vanatchanan%20buahom

As a society we are getting much better at taking our obligations to the world and environment around us more seriously. This is undoubtedly a good thing! The effects of climate change are beginning to manifest across the world, and this is turning the issue from an abstract threat into a very real danger. Trying to introduce some greener, more eco-friendly practices into your life isn’t just a great way of doing something beneficial for society and the world around you. It is a wonderful way of engaging positively with the world and carries with it numerous psychological benefits.

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Being a greener, more ecologically friendly person doesn’t require any dramatic life changes. Breaking or making a few small habits is all it takes to make your life a greener one. In this article we look at one of the easiest, yet most effective green practices to get into: reusing everyday items.

Jars and Containers

Glass and metal are widely recycled, and recycling is a good thing! However, consider whether any containers you buy, whether it’s a tub of ice cream or a jar of coffee, can be washed out and reused for something else. Mason jars, for example, can be used to store homemade pasta sauce and can be washed for future use. Once you start thinking about it, you will find endless opportunities to reuse your old containers.

Soda Bottles

An ice-cold soda is a wonderful treat on a hot day, but buying soda can get expensive, and the manufacturing and distribution of the drinks themselves isn’t great for the environment. However, by holding on to your old soda bottles and repurposing them as water bottles, you can save money on drinks, or use them to measure out water for your garden.

Plastic Bags

Most of the time groceries come in paper bags, which are better for the environment than the plastic alternatives, but they are less durable and thus harder to reuse. Whenever the store places your items in a plastic bag, hang onto it so you can reuse the bags again. If you want to take it one step further, consider looking into buying some personalized recycled bags. These bags are designed to last for a long time and are made of recycled materials. They look striking and unique, they’ll turn heads, and maybe even attitudes!

Seeds

If you’re a keen gardener, then you will already probably know how to reseed your plants in order to ensure a fresh crop after each plant’s lifecycle. If you have space in your garden, or haven’t yet tried your hand at gardening, then consider planting a small vegetable plot. Growing your own veggies means that you’ll be helping to cut back on the emissions generated by their transport and production. The best part about growing your own food in this way is that, by harvesting properly and saving the seeds, you can be set up with fresh vegetables for life!

Reusing and recycling common household items is an easy way to make your world a little bit greener. Once you start looking for these opportunities you’ll realize that they’re everywhere!

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Environment

These 5 Green Office Mistakes Are Costing You Money

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eco-friendly green offices
Shutterstock Licensed Photo - By Stokkete | https://www.shutterstock.com/g/cyano

The sudden interest in green business is very encouraging. According to recent reports, 42% of all companies have rated sustainability as an important element of their business. Unfortunately, the focus on sustainability will only last if companies can find ways to use it to boost their ROI.

Many businesses get so caught up in being socially conscious that they hope the financial aspect of it takes care of itself. The good news is that there are plenty of ways to go green and boost your net income at the same time.

Here are some important mistakes that you will want to avoid.

Only implementing sustainability on micro-scale

The biggest reason that brands are going green is to improve their optics with their customers. Too many businesses are making very minor changes, such as processing paperwork online and calling themselves green.

Customers have become wary of these types of companies. If you want to earn their business, you are going to need to go all the way. Bring in a green business consultant and make every feasible change to demonstrate that you are a green organization from top to bottom.

Not prioritizing investments by long-term ROI

It isn’t realistic to build an entirely green organization overnight. You will need to allocate your capital wisely.

Before investing in any green assets or services, you should always conduct a long-term cost benefit analysis. The initial investment for some green services may be over $20,000. If they don’t shave your cost by at least $3,000 a year, they probably aren’t worth the investment.

Determine which green investments will have the best pay off over the next 10 years. Make these investments before anything else. Then compare your options within each of those categories.

Implementing green changes without a plan

Effective, long-term planning is the key to business success. This principle needs to be applied to green organizations as well.

Before implementing a green strategy, you must answer the following questions:

  • How will I communicate my green business philosophy to my customers?
  • How will running a green business affect my revenue stream?
  • How will adopting green business strategies change my monthly expenses? Will they increase or decrease them?
  • How will my company finance green upgrades and other investments?

The biggest mistake that too many green businesses make is being overly optimistic with these forecasts. Take the time to collect objective data and make your decisions accordingly. This will help you run a much more profitable green business.

Not considering the benefits of green printing

Too many companies believe that going paperless is the only way to run a green organization. Unfortunately, going 100% paperless it’s not feasible for most companies.

Rather than aim for an unrealistic goal, consider the option of using a more environmentally friendly printer. It won’t be perfect, but it will be better than the alternative.

According to experts from Doranix, environmental printers have several benefits:

  • They can process paper that has been completely recycled.
  • They consume less energy than traditional printers.
  • They use ink that is more environmentally friendly.

You want to take a look at different green printers and compare them. You’ll find that some will meet your needs as a green business.

Poorly communicating your green business strategy to customers

Brand positioning doesn’t happen on its own. If you want to run a successful green business, you must communicate your message to customers as clearly as possible. You must also avoid the appearance that you are patronizing them.

The best approach is to be clear when you were first making the change. I’ll make an announcement about your company‘s commitment to sustainability.

You also want to reinforce this message overtime by using green labels on all of your products. You don’t have to be blatant with your messaging at this stage. Simply provide a small, daily reminder on your products and invoices.

Finally, it is a good idea to participate in green business seminars and other events. If your community has a local Green Chamber of Commerce, you should consider joining as well.

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