Global Seafood Leader Pledges Entire 2022 Net Profit Toward Meeting Broadest Reaching Commitments in the Industry
BANGKOK, Thailand, July 18, 2023 (GLOBE NEWSWIRE) — World seafood leader Thai Union Group PCL announced today the launch of SeaChange® 2030, the next stage of its sustainability strategy to help reshape the seafood industry with solutions across people and planet that better sustain a future for all. Climate change has become a “code red” for humanity, critical ecosystems are at risk and, according to the Food and Agriculture Organization of the United Nations, 600 million people directly or indirectly rely on the ocean as a source of jobs and food, especially in developing countries.
The time for change is now. That’s why Thai Union is committing the equivalent of its entire 2022 net profit of THB 7.2 billion (USD 200 million) to SeaChange® through 2030 and setting aggressive new goals that will impact the entire seafood value chain on a global scale.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
SeaChange® 2030 marks a significant expansion of the company’s sustainability strategy, first created in 2016, due to its 11 interconnected goals that will drive global impact for our people and our planet. The commitments, which actively support the delivery of 10 of the United Nations’ Sustainable Development Goals, comprise of:
- PATH TO NET ZERO EMISSIONS: 42% reduction to Scope 1, 2 and 3 greenhouse gas emissions by 2030 and net zero by 2050
- RESPONSIBLE WILD CAUGHT SEAFOOD: 100% of wild-caught seafood will be sourced responsibly or from a fishery in an improvement program and with responsible labor practices, extending Thai Union’s scope beyond tuna to other key species they source
- RESPONSIBLE AQUACULTURE: 100% of Thai Union’s shrimp is produced minimizing ecosystem impact and meets current industry best practices in welfare and working conditions
- ECOSYSTEM RESTORATION: Thai Union will contribute THB 250 million (more than USD 7 million) toward the protection and restoration of critical ecosystems
- RESPONSIBLE AGRICULTURE: 100% of soy and palm oil will be certified, ensuring zero deforestation across the supply chain, and 100% of chicken will be responsibly sourced
- BEST-IN-CLASS MANUFACTURING: Thai Union will implement zero water discharge, zero waste to landfill and zero food loss at its five key global facilities
- SAFE, DECENT, AND EQUITABLE WORK: Thai Union will continue to ensure a safe, decent, diverse and inclusive workplace for all employees while also expanding its efforts to include:
- 50% of management positions will be held by women
- 100% of sourcing vessels will work to prevent illegal, unreported and unregulated (IUU) fishing and modern slavery
- 100% of farms Thai Union sources from will use best labor practices
- OCEAN PLASTICS REDUCTION: Thai Union will divert 1,500 tons of ocean-bound plastic from waterways and oceans
- NUTRITION & HEALTH: 100% of branded ambient products will meet nutritional guidelines and 100% of new ambient products will drive positive nutrition
- SUSTAINABLE PACKAGING: 100% of branded products will be in sustainable packaging by 2025 and Thai Union will advocate for at least 60% of private label products to be in sustainable packaging
- CORPORATE CITIZENSHIP: Thai Union will contribute THB 250 million (more than USD 7 million) to give back to the communities in which it operates, in addition to ongoing support during times of crisis
Achieving these goals will help reduce carbon, minimize waste, safeguard and rebuild ecosystems, ensure safe, decent, and equitable work is a reality across the value chain, and advance a healthier world.
Thai Union is collaborating with some of the most impactful players in global sustainability and eco-leadership to launch its next stage strategy as the seafood industry’s leading agent of change, engaging thousands of vessels and farms to meet these goals. These partners include:
- Sustainable Fisheries Partnership
- Aquaculture Stewardship Council
- The Nature Conservancy
- IDH – the Sustainable Trade Initiative
- The Global Ghost Gear Initiative
Further, the company is aligning its net zero targets with the Science Based Targets initiative (SBTi) and will drive the deployment of new environmental data collection tools to help deliver a net zero economy. Thai Union is the first global seafood company to set goals verified by SBTi, accelerating meaningful progress in the industry.
“The seafood industry needs to do more when it comes to caring for our people, our planet and our oceans,” said Adam Brennan, Chief Sustainability Officer of Thai Union. “The time for aggressive action is now. Through SeaChange®, we aim to drive meaningful improvements across the entire global seafood industry. Commitments this ambitious require the power and collaboration of communities, governments, and organizations that can help make long overdue structural changes a reality. Together with our partners, we’re asking the wider industry and our peers to join this effort.”
Thai Union launched SeaChange® in 2016. Through this work, the company has been ranked No. 1 on the Dow Jones Sustainability Indices (DJSI) and has been listed for nine consecutive years. The company also currently ranks No. 1 on the Seafood Stewardship Index.
“At Thai Union, we view SeaChange® as our license to operate,” said Thiraphong Chansiri, President & CEO of Thai Union. “We believe it is important to treat the resources we rely upon responsibly, so we can nourish people and provide work in communities all over the globe for generations to come. Our vision is to be the world’s most trusted seafood leader and SeaChange® 2030 helps us get there. The changes we will achieve through this strategy are crucial – not just for Thai Union, but for the good of us all.”
For more information about SeaChange® 2030, visit seachangesustainability.
About Thai Union
Thai Union Group PCL is the world’s seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for 46 years.
Today, Thai Union is regarded as one of the world’s leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 155.6 billion (US$ 4.4 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, Hawesta, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta and Marvo, and ingredient and supplement brands UniQ®BONE, UniQ®DHA and ZEAvita.
As a company committed to “Healthy Living, Healthy Oceans,” Thai Union is proud to be a member of the United Nations Global Compact, a founding participating company of the International Seafood Sustainability Foundation (ISSF), and current Chair of Seafood Business for Ocean Stewardship (SeaBOS). Thai Union’s ongoing work through its SeaChange® sustainability strategy was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the ninth consecutive year in 2022. The company was ranked number one on the Food Products Industry Index of the DJSI, a position it previously held in 2018 and 2019. Thai Union was also named to the FTSE4Good Emerging Index for the sixth straight year in 2021. Find out more about the Group’s sustainability at seachangesustainability.org
Media Contacts:
North America: Melody Palatucci
mpalatucci@hunterpr.com
+1-212-679-6600
Europe & Africa: Markus Reber
markus.reber@thaiunion.com
+44 7779559551
Asia: Wiriyaporn Posayanonda (Pam)
Wiriyaporn.Posayanonda@
+66(0) 99-154-1254
GlobeNewswire Distribution ID 8875948