• 22nd Feb 2021
  • Company News

The Blue Economy

The blue economy focuses on the sustainable use of our ocean’s resources for economic growth. We spoke to our CEO, John Jones, about the emerging topic and why sustainable fishery practices are so important to the future of our global economy.

Why is the blue economy so important?

If we look at Scotland for instance the fishing industry has always been massive. Taking into account the current situations with Brexit, we have seen a pivot into localised selling patterns to combat the exportation delays. For this reason, we have seen a shift into more localised selling within our own country, leading to the industry seeking ways of saving money in long run.

The fishing industry often gets a bad reputation, but we will never veer away from the fact that localised food production will always play a critical role in providing growth on a social, economic and cultural level. With this in mind, by no means is the industry perfect, as with any other sector, there are always ways of improvement.

As we see the industry undergo rapid expansion to deal with increasing demands, pressure to adhere to legislation comes into the limelight. This coupled with rising costs, disease and environmental degradation means that the industry is seeking a more sustainable future.

How are we promoting a blue economy?

The fishing industry has been a staple for our local economy for centuries, that helped to shape Scotland as we know it today. For that reason, we have to support it. We see ourselves as an environmental partner, guiding the industry to more sustainable practices, while focusing on optimising their existing efficiencies.

By promoting responsible fishery practices and encouraging further growth in sustainable aquaculture, the industry can drastically reduce waste whilst contributing to economic growth and food security.

We’re innovating the industry, taking what was once an onerous and costly by-product and turning into a valued commodity that can be utilised in the very same process that it originated from. From biodiesel to clean water, we’re revolutionising fish processing by generating resources that would otherwise be depleted.

Encompassing these practices provides a circular process, aiding our number one target of carbon reduction, through eliminating huge carbon outputs from trucking and inefficient processing.

How does supporting the blue economy shape the future?

Oceans, seas, coastal areas and the associated blue economy are critical to global and national development, food security and the fight against hunger and poverty.

With the breakdown of globalisation and market trade, it showcases the volume of food stocks that we have. Having a healthy blue economy which is a natural source of protein and essential nutrients for us is really important in the long run.

Economic growth is also a crucial factor as we emerge from the Covid-19 pandemic and the growing adoption of sustainable practices in the fishing industry has created an opportunity not only to protect the world’s seafood supply but also generate jobs, supporting economic growth and recovery.