Austral Fisheries

Innovating to align sustainability and profitability

Austral Fisheries

Innovating to align sustainability and profitability

“The work that we did with Futureye has provided us with valuable ways of assessing and dealing with the may current and as yet unidentified potential reputational risks for our business. We operate in a highly visible, highly regulated pristine environment and ensuring that our communications are appropriate and purposeful ensures that trust is built and ’social capital’ is maintained or enhanced. The value of these insights cannot be underestimated for they pervade all aspects of our business from organisational culture and transparency, to leadership and extensive collaborations across a wide range of stakeholder groups.”

David Carter, CEO, Austral Fisheries

 

Austral Fisheries wanted to be on the leading edge of sustainability, and differentiate its brand from competitors, as well as protect itself from activist attacks. Futureye provided a social licence “health check” to better understand risks and opportunities and to enhance resilience in uncertain times.

Futureye assessed social licence threats to the industry and Austral Fisheries’ exposure to the risks, providing strategies to mitigate the risks.

Futureye’s research and advice helped Austral work closely with NGOs and international governments to resolve conflict between the Sea Shepherd and pirates illegally fishing Patagonian Toothfish. In 2012 Austral achieved Marine Stewardship Certification for its Patagonian Toothfish fisheries and, by combating pirate fishing, eliminated illegal operations.

During this process Futureye created a maturity analysis of climate issues and developed the world’s first carbon-neutral cultivated fish and this development resulted in Austral achieving a 13% premium for tender on the open market. In 2017, Austral received the prestigious Banksia Foundation Small to Medium Sustainability Leadership Award for seafood that is sustainable, healthy and carbon neutral.