Planet Tracker’s latest research reveals that an investment of just 1% of the global seafood industry’s revenue into improved traceability could unlock a USD 600 billion-dollar boost in global seafood enterprise valuations, increase the total profitability of the sector by 60% and dramatically improve the health of marine ecosystems. The primary cost benefits uncovered by Planet Tracker take the form of reduced spend on food recalls, food waste and staff overtime.

This side event will present:

• How and why corporates should implement traceability systems across supply chains where it is already feasible to do so (only 29% of global seafood volumes are traceability-ready, Planet Tracker estimates)

How governments could ensure that more seafood supply chains are traceable by relocating so-called harmful fishery subsidies (most of them being banned following the June 2022 WTO decision) towards incentives supporting traceability investments, and by introducing comprehensive traceability-related regulation?