Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296812 
Year of Publication: 
2023
Series/Report no.: 
ADBI Working Paper No. 1420
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
This paper seeks to outline the power of benchmarking to influence social transformation in the fisheries industry in contributing to the realization of ocean equity. It will do so by drawing on the experience of the Seafood Stewardship Index of the World Benchmarking Alliance (WBA), which assesses the 30 most powerful seafood industries on their pathways towards sustainability from the equity angle, which aims to ensure that the distribution of ocean wealth is accessible for workers and coastal communities whilst protecting their rights by minimizing harm inflicted on them. With the existence of cases of modern slavery in the fisheries industry, enhancing the quality of reporting has become an important reason for businesses to ensure that the supply chain process does not procure from illegal fishing and/or is not farmed by trafficked workers. This paper explains the above objectives by conceptualizing the scope and definitions of ocean equity, exploring the trends and insights based on the WBA's Seafood Stewardship Index's (SSI) scoring of the world's 30 most influential seafood companies, and further showcases how engagement with key actors is useful in driving changes among seafood companies. Finally, the author draws on policy recommendations that seek to incentivize actors with a view to achieving better social outcomes in the ocean.
Subjects: 
benchmarking
business and human rights
seafood industry
ocean equity
JEL: 
F660
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.