Eco Investor October 2014

Industry Focus

Secretary of State Supports Sustainable Food

The sustainable seafood sector has been receiving strong support from what for some may be an unexpectedly high power quarter - US Secretary of State and former US presidential candidate, John Kerry.

On numerous occasions between helping to solve the world's most pressing political and military issues, Mr Kerry has found time to lend his support and increase awareness about protecting the oceans and the need for sustainable seafood.

He has also done this in Australia. In August, Mr Kerry and US Secretary of Defense Chuck Hagel were in Sydney for the annual Australia-United States Ministerial Consultations (AUSMIN) with Foreign Affairs minister Julie Bishop and Defence minister Senator David Johnston.

Among its many political and diplomatic statements, the joint communique includes a resolution for the two countries "to continue to work together in pursuit of the sustainable management of oceans and fisheries, which are among the key development challenges in the Pacific and globally. They reaffirmed their commitment to cooperative efforts to address illegal, unreported and unregulated (IUU) fishing."

And while in Sydney Mr Kerry further displayed his commitment to a group of high school students at Darling Harbour. AAP reported that he told the students that the world needs to do more to protect its threatened oceans or risk life itself and warned of overfishing around the globe.

Mr Kerry told the students they have a major responsibility to the ocean because of mankind's connection to it. "If you measure the salt in human blood, it tells you the story of our own evolution and connections. So we hope to continue to focus the attention of nations on our common responsibility to protect the oceans of the world. Every kid on a beach can pick up a piece of plastic and not allow it to become the death note for a marine mammal or birds or others who end up ingesting it accidentally," he said.

He also warned of the dangers in overfishing the world's waters. "Too much money chasing too few fish, and most of the major fisheries in the world are either in extremis or near extremis."

AAP reports him saying his hope is that in the next few years a new consciousness will be created about responsibility to the ocean. "Life itself on earth depends on our relationship with the ocean. It is threatened by climate change, which is having a profound impact on acidity in the ocean and is having an impact on the eco-system."

Mr Kerry's advocacy continued at last month's UN Climate Summit where he hosted the event "Our Ocean: Next Steps on Sustainable Fishing and Marine Protected Areas." The event was "to forge a path forward on a range of ocean conservation measures including sustainable fishing and its relationship to food security, promoting marine protected areas and coastal adaptation, and resilience to climate change."


US Secretary of State, John Kerry.

And while at the UN Mr Kerry elevated the issue of climate change and participated in several other environmental events. He hosted the first-ever Major Economies Forum Foreign Ministers meeting to build political will and common cause to address climate change as a foreign policy priority and encourage countries to put forward robust climate targets to help reach an ambitious international climate change agreement in 2015. He delivered keynote remarks at the opening event of Climate Week NYC, "Toward a Vibrant, Low Carbon Economy." And he spoke at a reception celebrating the launch of the Global Alliance for Climate-Smart Agriculture and discussed the Alliance's efforts to respond to climate change in agriculture while increasing food production and reducing greenhouse gas emissions.

In June this year Mr Kerry hosted a global "Our Ocean" conference addressing overfishing, marine pollution and ocean acidification. The Washington meeting of government officials, scientists, business people, environmentalists and foundations from over 80 countries was convened to heighten the importance of marine issues in foreign policy.

US media reported State Department spokeswoman Jen Psaki saying "The time is right to elevate these issues. Mr Kerry is personally committed to building global stewardship for our oceans in the face of unsustainable fishing practices, record pollution and the devastating effects of climate change."

Reports says Mr Kerry developed a deep attachment to the sea when he was a toddler exploring the Atlantic Ocean off Massachusetts. While a senator he worked to curb drift net fishing and shark finning.

Eco Investor has promoted aquaculture as a solution for overfishing. While the unlisted sector is doing better than the listed sector, the ABC has reported that Huon Aquaculture is working towards an IPO and that ASIC has confirmed the family-owned company has applied to list.

The 25 year old Tasmanian company employs over 400 people. ABC reported stock analyst Dale Long from Bell Potter as saying that investors would line up for shares as long as the list price was appropriate. Other media reports say the company could be valued at around $400 million and the float could kick off in early October.

Huon Aquaculture would be a welcome addition to the listed aquaculture sector where only Tassal and more recently Clean Seas Tuna are profitable.

 

 

 



 





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