As one of the world's leading seafood companies, Thai Union recognizes its profound responsibility for sustainable and ethical seafood sourcing. Thai Union is committing the equivalent of its entire 2022 net profit of THB 7.2 billion (USD 200 million) to SeaChange(R) through 2030 to help reshape the seafood industry with solutions across people and planet that better sustain a future for all.
"The time for aggressive action is now. Through SeaChange(R), we aim to drive meaningful improvements across the entire global seafood industry. Commitments this ambitious require the power and collaboration of partners like SFP that can help make long overdue structural changes a reality. Together, we're asking the wider industry and our peers to join this effort," said Adam Brennan, Chief Sustainability Officer of Thai Union.
"Thai Union is setting a new level and expectations for seafood sustainability with its ambitious and concrete commitments to protect ocean wildlife. If everyone followed suit, the seafood industry could play a huge role in addressing this biodiversity crisis and help restore marine wildlife," said Kathryn Novak, Biodiversity and Nature Director, SFP.
The partnership with SFP, an organization with nearly two decades of experience catalyzing positive change across seafood supply chains globally, has been instrumental in Thai Union's recent sustainability journey. The collaborative effort has achieved significant advancements across five pivotal areas:
- Protecting Marine Biodiversity: Through a partnership with SFP, Thai Union audited its supply chain to address bycatch risks, resulting in a commitment to sourcing exclusively from vessels implementing ocean wildlife protection practices. Thai Union's pioneering endorsement of the Protecting Ocean Wildlife Pledge and focus on responsible sourcing are reflected in SeaChange(R) 2030.
- Understanding its supply chain - and sharing it with the world: Utilizing SFP's Seafood Metrics system, Thai Union gained insights into its global supply chains, promoting transparency in its approach. The company's disclosure of wild-caught and farmed seafood sources via SFP's Ocean Disclosure Project underscores its commitment to accountability.
- Reducing confusion in seafood supply chains: As early adopters of SFP's universal fishery identification system, Thai Union improved traceability within its blue swimming crab supply chain. The standardized codes for global fisheries are helping Thai Union to improve traceability.
- Addressing climate change through responsible aquaculture: Aligned with SeaChange(R) 2030, Thai Union championed landscape-level aquaculture management to minimize ecosystem impact. The company's leadership in chairing SFP's Asian Farmed Shrimp Supply Chain Roundtable contributes to climate resilience and the restoration of mangrove ecosystems.
- Setting a good example and rallying the seafood industry for change: Thai Union's commitment involves dedicating its entire 2022 net profit of USD 200m to SeaChange(R) through 2030, serving as an industry-wide call to action. The company's collaboration with SFP and participation in multi-stakeholder groups displays its dedication to driving collective improvement, using best practices to protect ocean ecosystems.
Reflecting on this significant partnership milestone, Thai Union and SFP are committed to building upon their first year. Their shared vision and complementary expertise promise to continue fostering progress, driving transformative change within the seafood industry.
For a comprehensive overview of their partnership achievements, refer to the full report: Here https://www.thaiunion.com/files/download/sustainability/sfp-tu-partnership-year1-report.pdf
Explore Thai Union's extensive sustainability efforts in the 2022 sustainability report. https://www.thaiunion.com/files/download/sustainability/sd-report-2022-en.pdf
Source: Thai Union Group