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The Seafood Traceability Engagement Progress Report 2024 underscores the importance of robust traceability systems in the seafood supply chain to address critical environmental and social issues, including illegal fishing, human rights abuses, and overfishing.
Initiated by FAIRR, WWF, and partners, the engagement involves 35 investors managing $6.5 trillion in assets working with seven major seafood companies to establish full-chain, digital, and interoperable traceability.
Key findings reveal progress gaps, with only two companies – Thai Union and CP Foods – demonstrating substantial commitments to traceability.
The report highlights the economic benefits of traceability, such as regulatory compliance, waste reduction, and brand reputation. It calls for industry-wide collaboration, adherence to global standards like GDST, and increased transparency to ensure sustainable practices and investor confidence in the seafood sector.
Phase 2 of the engagement is set to expand these efforts in 2025.
