Marshall Islands’ joint venture with tuna industry claims “sustainability and profitability are not at odds”
07 Oct 2021 --- The Republic of the Marshall Islands is spearheading a new industry partnership that aims to help Pacific Islanders participate more equitably in global tuna supply chains.
Teaming up with global conservation organization The Nature Conservancy (TNC), the local fishing industry has launched the joint venture company Pacific Island Tuna, which intends to direct 100% of long-term net profits back to Pacific Island governments and communities.
“Pacific Island Tuna is showing the world that sustainability and profitability are not at odds, even in an industry that has been challenged by both,” says Gene Muller, general manager of Pacific Island Tuna.
“Through close collaboration between resource owners and retailers, we can shape a different, more resilient future for the tuna industry, and the communities that rely on it. We are confident that this model will be adopted across the industry, benefitting both people and the planet.”
Island cash cow
Tunas are environmentally, economically and culturally important species for Pacific Island nations. Yet these countries, whose waters are the heart of global tuna fisheries, have historically been excluded from enjoying the full economic returns of their natural resources.
The RMI’s economy relies heavily on revenue from the tuna industry. Nearly 90% of its non-aid income comes from the tuna industry, but this income represents a tiny fraction of the US$26 billion global canned tuna market, according to TNC.
Pacific Island Tuna aims to help Pacific Island nations gain visibility to the full supply chain, from dock to distribution.Pacific Island Tuna aims to help Pacific Island nations gain visibility to the full supply chain, from dock to distribution.
As part of the Pacific Island Tuna deal, at least 40% of the company’s net income distributions will directly support community-based conservation and climate resilience projects, including the development and management of Marine Protected Areas and coral reef restoration.
The other 60% of profits will be returned to Pacific Island governments.
“We know that real resilience will come from deep, long-term partnerships that center on people and nature,” says Jennifer Morris, CEO of The Nature Conservancy. “We hope that Pacific Island Tuna’s exemplary sustainability practices will be adopted in fisheries all over the world, as a vital step towards helping our oceans at a critical moment for their health and protection.”
Holding fishing sector to a standard
The recent debut of the Netflix documentary Seaspiracy brought to light on the detrimental impact of fishing gear waste on oceanic life. Industry-led action to improve the environmental credentials of marine-caught produce has since dominated in public interest.
Pacific Island Tuna requires a prohibition of the use of fish aggregating devices to reduce the bycatch of juvenile tuna and at-risk species like sharks and turtles.
Meanwhile, dockside offloading – Pacific Island Tuna’s requirement that all fish passes through a port in the Pacific to verify catch volumes – eliminates the possibility of illegal, unreported, and unregulated (IUU) fishing and provides workers on fishing vessels the added safety measure of being able to leave the vessel if necessary.
These standards are validated through Pacific Island Tuna’s commitment to 100% on-the-water transparency through human observers and Electronic Monitoring (EM) coverage on all fishing vessels.
EM’s incentive for compliance is that fishers are faced with the possibility of losing Pacific Island Tuna’s business if EM footage reveals that they have violated its standards.
Big waves in retail
Retail giant Walmart recently chose Pacific Island Tuna to supply it with Marine Stewardship Council-certified canned skipjack tuna for its in-house brand, Great Value.
“We are honored to be working with an innovative partner like TNC and a large retailer like Walmart on this transformative business venture, which will promote economic and conservation development for our beloved country,” comments president David Kabua of the RMI.
“This approach maximizes benefits for our people, who will see investments in climate resilience, additional revenues for associated businesses, and the creation of new on-shore and on-water job opportunities. We’re equally excited about the catalytic impact this arrangement will have on the world’s fishing industry,” he continues.
“We believe more retailers will follow suit and commit to transparency within their seafood supply chains, while also seeing the value of working directly with the people and communities impacted most.”
By Benjamin Ferrer
