Blue Star Foods Corp.’s (NASDAQ: BSFC) 2022 sustainability report narrates the company’s journey from 2020 until 2022, as one of the most complex times for any international brand. Picking up at the end of their inaugural publication, this report uncovers new initiatives as an integrated ESG seafood company that processes, packages, and sells high-value seafood products in the United States and Canada. Sourcing blue and red swimming crab meat mainly from Indonesia, the Philippines, Sri Lanka, and China, where the company has an established network of trusted farmers.
“Throughout the past 26 years, sustainable development has been at the core of our business strategy and brand ethos. For Blue Star, sustainability is not just a trend or clever growth tactic; it is central to our operations, a mainstay of growth and innovation.” -John Keeler, Founder & Executive Chairman
ESG Goals & Actions
- Energy: commitment to reducing greenhouse gas emissions intensity (Scope 1 and 2 emissions) by 5% in 2024 against a 2022 baseline, as well as working with suppliers to complete a Scope 3 assessment and set a reduction goal by the end of 2024.
- Water: Commitment to reduce water intensity by 10% by 2024 against a 2022 baseline.
- Waste: Goal to achieve a company-wide landfill diversion rate of 85% by 2024. 50% reduction of food loss waste generated by manufacturing by 2030 as part of the World Resources Institute (WRI) 10x20x30 Food Loss Waste (FLW) initiative.
The WRI Food Loss Waste Protocol was established to help address wastefulness within the global food system. Worldwide, one-third of all food that is produced is lost or wasted before it reaches consumers. This inefficiency is responsible for 8% of global greenhouse gas emissions and equates to $940 billion in economic losses annually.
The 10x20x30 Initiative is helping food retailers and providers drive change in the industry by supporting their suppliers’ efforts to reduce food loss and waste. All 12 founding partners have inspired nearly 200 commitments from their suppliers to cut their food loss and waste by 50% by 2030. Together with their vendors, these companies have developed concrete actions to combat food insecurity, reduce greenhouse gas emissions and help establish sustainable business models for the future.