Overfishing and unsustainable fishing practices are affecting a growing number of global fisheries, and could cause an irreversible decline in fish populations and eventually disrupt company supply chains. In the shorter term, rising awareness of fisheries decline among regulators and consumers may pose reputational and regulatory risks to companies.
Through this engagement a group of 19 investors with AUM of $1.7 trillion sought to address the ‘information gap’ on this issue by seeking further information from retailers and food producers on their sourcing policies and management of these risks. As a result of the engagement, investors identified the lack of group-wide policies on sustainable fisheries as a key issue, and have sought further dialogues with companies which do not have such a policy in place. One company has committed to improve their policy, while three others have shared more information on the obstacles to improving global sourcing practices..