Leverage points in the financial sector for seafood sustainabilityJouffray, J-B., Crona, B., Wassénius, E., Bebbington, J. & Scholtens, B., 2-Oct-2019, In : Science Advances. 5, 10, 11 p., 3324.
Research output: Contribution to journal › Article › Academic › peer-review
Can finance contribute to seafood sustainability? This is an increasingly relevant question given the projected growth of seafood markets and the magnitude of social and environmental challenges associated with its seafood production. As more capital is injected into the seafood industry, it becomes crucial that such investments steer the sector towards improved sustainability, as opposed to fueling unsustainable working conditions and overexploitation of resources. Using a mixed-methods approach, we map where different financial mechanisms are most salient along a seafood firm’s development trajectory and identify three leverage points for sustainability that can redirect capital towards more sustainable practices: loan covenants, stock exchange listing rules and shareholder activism. Our results show that although they hold great promise for transformative capacity, this potential is currently unlikely to be realized due to limited social-ecological awareness within the finance industry. We argue that seafood sustainability requirements need to be integrated into traditional financial services and propose key research avenues for both the academic and the policy community. While our study focuses on the role of finance in seafood sustainability, the insights developed throughout are of high relevance to other extractive industries as well.
|Number of pages||11|
|Publication status||Published - 2-Oct-2019|
- FIRMS, MANAGEMENT, OWNERSHIP, FISHERIES, BANKING, FOOD, CARE
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