Seafood companies could unlock more than $600 billion in additional profitability by investing in supply chain traceability, according to a new report published on 17 February by the FAIRR Initiative.
The report, titled “Traceability in Seafood Supply Chains: An Imperative for Investors”, warns that a persistent gap between corporate traceability commitments and implementation plans is exposing businesses — and their investors — to significant financial, regulatory and reputational risks.
Drawing on analysis from non-profit financial think tank Planet Tracker, FAIRR found that investing just 1% of seafood sales into traceability systems could increase industry profitability by 60%, representing a potential $600bn uplift.
“The seafood sector alone generates $1.8 trillion per year, equivalent to 2% of global GDP,” said Laure Boissat, research and engagements manager for oceans at FAIRR. She stressed that the industry must address “material risks of poor traceability” to safeguard its long-term viability.
Major Companies Under Scrutiny
The findings mark the second phase of FAIRR’s investor engagement programme, supported by 45 investors representing US$9.6 trillion in combined assets. The initiative is delivered in partnership with organisations including the World Wildlife Fund, World Benchmarking Alliance and the United Nations Environment Programme Finance Initiative.
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GDST-aligned traceability in seafood supply chains. Click on the image to enlarge it
Seven major seafood companies were assessed:
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Charoen Pokphand Foods
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Marubeni Corporation
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Maruha Nichiro Corporation
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Mitsubishi Corporation
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Nissui Corporation
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Nomad Foods
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Thai Union
Four of the seven companies have now doubled their traceability commitments since Phase 1. In 2025, Maruha Nichiro and Mitsubishi disclosed new commitments, joining Thai Union and Charoen Pokphand Foods.
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Overview of the Seafood Traceability Engagement. Click on the image to enlarge it
However, progress remains uneven. While most companies have issued high-level commitments, five out of seven lack robust implementation plans, and two companies disclosed no strategy or milestones at all. None currently provide comprehensive, time-bound implementation roadmaps.
Only three of the seven companies explicitly recognise traceability as a critical tool for managing overfishing and supply chain risks, despite all acknowledging threats from overfishing and marine habitat loss.
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Certification Not Enough
The report also cautions that certification schemes alone do not guarantee full supply chain transparency. While organisations such as the Aquaculture Stewardship Council and the Marine Stewardship Council are strengthening their traceability systems and piloting digital improvements, they do not yet provide end-to-end, interoperable traceability.
Investors are instead being encouraged to push companies toward leading digital standards such as those developed by the Global Dialogue on Seafood Traceability (GDST). Notably, Thai Union and Mitsubishi now explicitly reference GDST in their commitments, up from just one company in Phase 1.
Financial and Reputational Risks
FAIRR warned that weak traceability exposes investors to operational, regulatory, social and reputational risks. Links to human rights abuses, illegal fishing, and opaque sourcing practices can trigger consumer boycotts, supply chain disruptions, litigation costs, and damage to brand integrity.
Robert-Alexandre Poujade, biodiversity lead at BNP Paribas Asset Management, said the investment case was “clear”.
“Robust traceability is key to protecting fish stocks, safeguarding human rights, preserving nature and ensuring continued market access in the context of tightening regulation,” he said, adding that engagement efforts aim to move the sector “beyond pledges to practice.”
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Scaling Challenges Persist
Companies participating in the engagement cited common barriers to scaling traceability systems, including paper-based processes, fragmented data, and complex global supply chains. Implementing digital, interoperable systems often requires significant upfront costs and cross-industry collaboration.
Nevertheless, FAIRR argues that embedding traceability as a core risk management tool, strengthening verification systems, and adopting time-bound strategies could deliver benefits for “people, planet and prosperity”.
“Improving supply chain traceability delivers benefits for people, planet and prosperity,” said Lucy Holmes, senior director of ocean markets and finance at WWF-US, noting that both corporates and investors are increasingly recognising the profitability and resilience advantages of transparent seafood supply chains.
With the global seafood industry valued at $1.8 trillion annually, the report concludes that failure to close the traceability gap represents not just an environmental and social concern — but a missed multi-trillion-dollar financial opportunity.
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