Earlier this summer, President Obama announced an ambitious new policy to combat illegal fishing with tougher requirements on seafood entering US markets. At present, 20%-30% of seafood is thought to be caught through illegal, unreported or unregulated fishing – and half may be mislabeled. At the same time, recent investigative reports from the Guardian have uncovered slave-like conditions on Thai fishing boats, raising a wellspring of concern from activist consumers, as well as multinational retailers accused of sourcing from supply chains that use slave labor.
Seafood businesses face more consumer mistrust, disgust at labor conditions, and worry over fisheries collapse and ecological catastrophe than ever before. They are at a crossroads: they can wait to change their practices until increasingly stringent regulations force them to do so, or can embrace new policies now, investing in traceability and monitoring technology, and committing to sustainable sourcing from independent, near-shore fishing communities.
Companies that act early stand to earn consumer loyalty and gain a competitive advantage. That should be a big draw in an industry where competition can be fierce.
To read the rest of the story, please go to: The Guardian
