Trade Resources Company News Thai Union to Invest $90m on Sustainable Tuna Initiatives

Thai Union to Invest $90m on Sustainable Tuna Initiatives

Seafood giant Thai Union Group has announced to invest $90m to increase the supply of sustainable tuna, as part of its new tuna strategy.

The company has made a commitment to ensure that 100% of its branded tuna is sustainably sourced and aims to achieve a minimum of 75% by the end of 2020.

Part of the new strategy is to set up 11 new Fishery Improvement Projects (FIPs) across the world.

According to the seafood company, a FIP is a program to transform a fishery, ensuring sustainable fish stocks, bringing down environmental impacts to the bare minimum besides improving fishery management.

Thai Union Group CEO Thiraphong Chansiri said: “Tuna is the most readily available source of protein for millions of people around the world, and at least one billion depend on seafood for nourishment or employment.  As a leader in the seafood industry, Thai Union has a responsibility to protect tuna stocks for the good of the world.

 “Our substantial investment will transform tuna sourcing for the entire industry and demonstrates our strong commitment to the sustainability of our oceans.”

Sustainably sourced tuna has been defined by Thai Union as tuna sourced from fisheries, already certified in compliance to the Marine Stewardship Council (MSC) standards or are part of a FIP that is implementing measures to get the required standards for MSC certification.

Thai Union global director for sustainable development Darian McBain said: “Currently only 11 tuna fisheries globally are MSC certified, supplying just 14% of globally landed tuna. Our commitment and strategy will have a positive impact on the entire industry by significantly increasing the supply of sustainable tuna available to the seafood processors, retailers and, ultimately, consumers.”

Additionally, Thai Union said that it is investing to pilot new digital technology to enhance transparency in the supply chain.

The company expects to address illegal, unregulated and unreported fishing with 100% digital tracebility.

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