What the (sustainable) octopus can teach us: the fishing sector rides the wave of the blue economy

Seafood and blue economy: fishing companies, marketers, ports, fish auctions... and consumers

The World Bank defines the blue economy as one that makes a sustainable use of ocean resources to support both economic growth and improved livelihoods and ecosystem health. For the seafood sector, it is an opportunity to provide food without putting the planet's resources at risk.

According to the MSC director, the change of mindset for these sectors to become more sustainable is already a reality. Policies with ambitious, measurable and transparent objectives are now necessary. 

In addition, the different agents that form part of the long chain of fishing and commerce of seafood products play a fundamental role in contributing to this improvement. "The first step in transforming these sectors must be taken by  fishing companies, by assessing the impacts of their activity and reducing them," Rodriguez explains. 

The second step corresponds to trading companies. "For them, one of the big challenges is  to have a good understanding of the supply chain. Where the fish and shellfish come from, under what conditions they have been caught, and so on. In other words, to achieve greater transparency in traceability," continues the director of this NGO. 

About this point, ports and fish auctions have the capacity to tip the balance towards sustainability. "They are the gateway to land-based seafood and therefore key players in the fight against illegal fishing. By verifying information at the first sale they can ensure that legislation is complied with and that illegally harvested products do not enter the commercial chain," says Rodriguez.

The last link in the chain is the consumer, who also has a responsible role in choosing the products he or she buys. One option for ensuring that the fish and seafood consumed is linked to the principles of the blue economy is to pay attention to the seals that endorse it. 

Trend-setting projects and sustainable fishing companies 

To measure the sustainability of fisheries, the MSC uses three criteria: the state of fish stocks, their environmental impact and the management of the fisheries themselves. In the 12 years that the NGO has been working in Spain, more than 300 companies in the cod, white tuna, anchovy and tuna fleets, among others, have obtained certification.

"We have seen a positive, but moderate, evolution. In other countries with similar fish and seafood consumption patterns to Spain, the values are higher. We need blue seal fish to be more relevant, and for consumers to be able to find them in more establishments," Rodríguez points out.

Analysis of French and Spanish fisheries

With this objective and together with WWF, the NGO has created the Medfish Project to carry out an analysis of French and Spanish Mediterranean fisheries and, with the data obtained, establish an action plan to undertake sustainability improvements. In addition, Medfish works with actors in the supply chain to increase demand for sustainable fish products and boost their commercialisation. 

In the business sector, one company that stands out for its sustainability is Frime. A tuna trading company that uses sustainable fishing techniques and relies on development and R&D to optimise its operations. 

In terms of sustainability, the company relies on five commitments: using its energy resources efficiently, boosting the circular economy, reducing its carbon dioxide (CO2) emissions, limiting the waste of raw materials and other resources and minimising its impact on the sea. 

In terms of innovation, the company makes use of technologies and tools such as X-rays and artificial vision to ensure, among other aspects, the reliability of its product labelling. This is essential to guarantee transparency and the correct traceability of sustainably caught fish. 

The benefits of the blue economy in fisheries

Sustainable fisheries and aquaculture have many advantages, including protecting marine wildlife, contributing to food security and reducing pollution. But there are also many other socio-economic benefits. 

As we have already mentioned, according to the study 'Evidence of price premium for MSC-certified products at fishers' level: The case of the artisanal fleet of common octopus from Asturias (Spain)', carried out by the University of Cantabria, the sale of octopus certified with the MSC seal by Asturian artisanal fisheries fetched a considerably higher price than that of non-certified products, up to almost a 25% more.

"As a result of this study, we found that fisheries with certified products obtained not only a higher market price, but also other benefits that generate added value and can empower the primary sector," says Rodríguez. "For example, they gained more bargaining power, strengthened the organisational capacity of the fishermen's associations and improved their communication with the administration and scientific institutions.”

Stock market rises if the fishing net is sustainable

On the other hand, the study 'How Do Investors Value Firms' Decisions on Obtaining an Eco-label? Evidence from the Fishing Industry', carried out by the same university, shows how obtaining an independent certification improves the listing of companies on the stock exchange.

"This is something we also see informally: as a result of certification, these companies gain access to better markets and better prices," says the MSC director, "and there is another very important benefit: by making improvements in sustainability, the companies' own staff begin to understand its importance and to make changes that go beyond those governed by certifications.”