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Source: Thai Union

The company has committed to spending the equivalent of its entire 2022 net profit of $200m

John West owner Thai Union has launched the next stage of its sustainability strategy in an attempt to reshape the seafood industry.

The company has committed to spending the equivalent of its entire 2022 net profit of $200m on the strategy, and set new goals to change the seafood value chain globally.

SeaChange 2030 marks an expansion of the company’s 2016 sustainability strategy, with 11 interconnected goals.

“The seafood industry needs to do more when it comes to caring for our people, our planet and our oceans,” said Adam Brennan, chief sustainability officer of Thai Union. “The time for aggressive action is now.”

Among these goals are plans to reduce Scope 1, 2 and 3 emissions by 42% by 2030, and achieve net zero by 2050.

It has committed to source 100% of wild-caught seafood responsibly or from a fishery in an improvement programme by 2030. By the same date, 100% of its shrimp “will be produced with minimum impact on our ecosystems and will meet current industry best practices in welfare and working conditions”, it added.

In addition, all soy and palm oil will be certified and its chicken responsibly sourced, while the seafood giant has pledged $7m toward the protection and restoration of critical ecosystems and has committed to implementing zero water discharge, zero waste to landfill and zero food loss at its five key global facilities.

Thai Union will divert 1,500 tonnes of ocean-bound plastic from waterways and oceans. It has also pledged that all branded products will be in sustainable packaging by 2025, and that it will advocate for at least 60% of own label products to also be in sustainable packaging.

The company has aligned its net zero targets with the Science Based Targets initiative, and has claimed it is the first global seafood company to do so.

It has also made commitments to ensure the company is a “safe, decent and equitable” workplace for all employees, and will expand its efforts to prevent illegal fishing and modern slavery, enforce best labour practices and have 50% of management positions held by women.

Elsewhere, Thai Union committed to improving nutrition in its branded products and has pledged to contribute more than $7m to communities in which it operates.

“Through SeaChange, we aim to drive meaningful improvements across the entire global seafood industry, added Brennan. “Commitments this ambitious require the power and collaboration of communities, governments and organisations that can help make long-overdue structural changes a reality.

“Together with our partners, we’re asking the wider industry and our peers to join this effort.”