World - The Bumble Bee Seafood Company Announces Acceleration of Its Sustainability Efforts
The Bumble Bee Seafood Company today announced a $40 million commitment over the next five years toward efforts that will further restore and protect the health of the world’s oceans.
The company has created a dedicated Accelerator Fund focused on further closing the gap on some of the biggest industry challenges in the sustainability space. Desired outcomes of the initiative include ensuring the abundance of tuna stocks, reducing the impact of fishing on other species and working to remove plastics and other waste from the ocean.
“Our sustainability journey started many years ago and we’re proud of our past accomplishments, but now is the time to accelerate our actions,” said Jan Tharp, President and CEO of the Bumble Bee Seafood Company. “It’s the right thing to do for our planet, for the billions of people who rely on seafood for sustenance and for the long-term success of our business.”
Tharp said the company will use the Accelerator Fund to pursue new ideas, partners and technologies, while also continuing to advance several current initiatives making a significant impact. Complete details are available in the company’s Seafood Future Report which will be updated annually to track against progress. Initiatives include:
- Fishery Improvement Project (FIP) in the Indian Ocean and elsewhere: Bumble Bee recently partnered with FCF Fishery Company, Ltd. and Ocean Outcomes to launch a first of its kind in the region longline albacore FIP in the Indian Ocean. This work is designed to move the fishery towards the Marine Stewardship Council (MSC) standard that ensures the abundance of the target albacore stock, mitigates the impact of fishing on other species, and certifies the fishery is monitored and well-managed. By 2022, Bumble Bee plans to source 100% of its light meat tuna from MSC-certified fisheries, and by 2023 all longline albacore will come from a credible FIP.
- Plant-Based Foods: Providing alternative, sustainable ways for consumers to enjoy ocean-inspired food is a key pillar of the company’s long-term commitment to ocean health. Earlier this year, Bumble Bee became the first and only major seafood company to enter into the plant-based protein sector via a joint distribution venture with Good Catch Foods.
- GlobalGhost Gear Initiative: Bumble Bee recently extended its partnership with the Global Ghost Gear Initiative to include a project in Indonesia to develop and deploy ocean-safe tracking mechanisms to find and collect lost and abandoned fishing equipment.
- Reducing Plastic Shrink: The company is also planning to eliminate the plastic shrink on its multipacks through continued innovation, making its overall packaging nearly 95% recyclable in 2020 and expanding to 98% by 2025.
View the full multimedia press release here: https://www.businesswire.com/news/home/20200615005022/en/