Doing well by doing good: Proving the economic viability of corporate social responsibility
Fish buyers at US grocery chains and food service providers aren’t the only ones who’ve taken an interest in our unique approach to sustainability and social impact. The innovative thinking behind our commercially sponsored fishery management model also caught the attention of Aavishkaar, a global leader in early stage impact investing.
Since 2001, they’ve focused their investments on businesses that demonstrate innovative models for helping low-income populations in the emerging world earn their way to a better standard of living. And in 2015, they made their support for our unique fishery management initiative official when they made the project their very first investment in fisheries and Indonesia via the new Aavishkaar Frontier Fund.
The project — which was planned in cooperation with federal, regional, and local Indonesian governments — is currently in development and features substantial investments in ice-making, cold storage and processing facilities in remote fishing villages in Indonesia’s eastern archipelago. The resulting Fishery Community Center system will empower fisher communities through locally managed cooperatives and introduce collaborators to manage social development programs. It will therefore provide significant social impact in the form of hundreds of new jobs, as well as higher and more reliable compensation for artisanal fishers in the region.