A report from the non-profit financial think tank, Planet Tracker, underscores the imperative need for a transition to regenerative aquaculture to counteract an anticipated 50 million tonne seafood supply gap by 2050. The report, titled “Avoiding Aquafailure: aquaculture diversification and regeneration are needed to feed the world,” sheds light on the urgency for transformative measures in the face of current aquaculture practices.
Even in the most optimistic scenarios of improving existing aquaculture practices, a substantial gap is anticipated. Planet Tracker’s analysis reveals that technological solutions, including offshore and land-based farming or lab-grown fish, could contribute up to 5 million additional tonnes of seafood by 2050. However, embracing regenerative aquaculture, which incorporates practices providing ecosystem benefits, such as water filtration by bivalves and carbon sequestration by seaweed, could generate an additional 45 million tonnes of seafood, meeting the growing global demand.
Despite the promising potential, the report highlights a formidable financial hurdle, estimating a need for at least $55 billion in capital expenditure to facilitate this transition. This financial requirement exceeds the current capacity of many aquaculture companies.
The report issues a stark warning against maintaining a business-as-usual approach, particularly one reliant on concentrated fish monocultures. Such an approach poses significant biodiversity risks, including nutrient pollution and displacement of native species, resulting in potential financial losses for the industry. Recent research underscores the industry’s increasing concentration, with the top ten seafood-producing countries accounting for a staggering 89% of total seafood production.
François Mosnier, head of the oceans program at Planet Tracker, emphasizes the need for a resilient, productive, and environmentally sustainable aquaculture industry. The report calls on investors and lenders to facilitate this transition by recognizing the escalating risks associated with the business-as-usual scenario. It urges them to demand enhanced disclosure, transparency, and traceability procedures from companies to better quantify and mitigate risks.
Furthermore, the report advocates for support of diversification in species and geographic distribution, especially if such diversification allows for ecosystem restoration. Technology enabling offshore, recirculating aquaculture systems (RAS), and cultivated seafood is encouraged, provided it aligns with environmental sustainability.
To bolster these efforts, the report suggests supporting regenerative aquaculture investments, potentially through offering more accessible capital for sustainable expansion, including via sustainability-linked bonds. The multifaceted approach proposed in the report aims to address the pressing challenges facing the aquaculture industry, ensuring a sustainable and secure global seafood supply for the future.
