Sustainable Markets Initiatives in Action

SMI Pathfinders

    Pathfinders

    Pathfinder

    Oceans & Fisheries

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    Pathfinder Oceans & Fisheries

    The global ocean is under unprecedented pressure from overfishing, habitat degradation, climate change, and pollution yet it remains the world’s largest carbon sink, a source of food security for billions, and home to the biodiversity underpinning healthy planetary systems.  

    The SMI is uniquely positioned to increase sustainable fisheries, scale responsible finance and insurance solutions, and deliver measurable progress on ocean regeneration and the global 30×30 target. 

    Problem statement

    • Fragmented collaboration and slow conversion of global ocean commitments into coordinated action: Despite agreements such as the High Seas Treaty and the 30×30 target, progress is slowed by misaligned incentives across fishing industries, seafood companies, governments, scientists, and NGOs, while slow multilateral processes hinder implementation. 

    • Insufficient private-sector investment and scalable business models for marine protection and sustainable fisheries: Large-scale MPAs and modernised fisheries management need significant funding, risk-sharing, and innovative finance, yet many efforts still lack bankable projects or clear commercial incentives, especially in high-seas and remote areas. 

    • Lack of integrated pathways that balance conservation, science-based fisheries management, just transitions, and Nature-positive outcomes. 

    Implementation pillars

    1. The SMI Oceans Stewardship Initiative

      The SMI will prioritise private sector diplomacy with target CCAMLR member States to contribute private sector support to the MPA covering the Antarctic Peninsula. The SMI will develop an Ocean Stewardship Initiative Playbook covering science, stakeholder landscape, industry alignment, diplomacy and governance, and the value of engagement. 

    2. Insurance & Finance Integration 

      The SMI will demonstrate economic and ROI models for sustainable fishing and develop the financial case for ocean stewardship. The SMI will work with insurers to explore preferential pricing, coverage, and investment terms. 

    3. Bottom Trawling & Bycatch

      The SMI will explore the science around bottom trawling concerns, mapping where government policy and regulation permits the practice and where nuance lies. The SMI will explore, amplify, and scale up gear innovation and area-based management in sensitive benthic and bycatch areas, developing and sharing science-based and private sector research to showcase best practice across the fishing industry. 

    4. Leverage Space-Based Observation, AI & Logistics 

      Leveraging the SMI’s Astra Carta, the SMI will utilise space-based monitoring capability, the UN Office of Outer Space Affairs, and AI to support fisheries compliance and 30×30 ocean monitoring.  

    5. Collective Industry Communications 

      The SMI will develop a shared narrative and positive storytelling framework that the sector can use to communicate best practice and progress collectively rather than individually.  

    6. Indian Fisheries 

      The SMI will focus on the unique challenges and opportunities within India’s fisheries sector, recognising the critical importance of livelihoods, food security, and the scale of Indian coastal communities in any sustainable fisheries transition. 

    7. Salmon 

      The SMI will address the sustainability challenges specific to salmon aquaculture and wild fisheries, exploring science-based management, welfare standards, environmental impact reduction, and market-led incentives to support the transition to responsible salmon production at scale.