ABOVE BOARD: 2022 SUSTAINABLE BANKING 2022 BASELINE ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES

WWF-Singapore's 2022 baseline assessment of 41 banks reveals that while over half recognize E&S risks in the seafood sector, only 20% have disclosed specific sector policies. The average score across 34 sub-indicators was 17%, with European banks showing the most robust policies and Asian and North American banks lagging. The report finds that expectations for wild-catch production are the most developed, while aquaculture and downstream requirements are lacking. WWF recommends that banks align policies with UNEP FI Sustainable Blue Economy Finance Initiative guidance, integrate seafood risks into broader thematic policies, and develop targeted 'blue' financial products.

• The baseline assessment of 41 banks indicates a significant gap between the recognition of environmental and social (E&S) risks and the implementation of formal policies; while more than half of the banks publicly acknowledge these risks, only 20% have disclosed specific seafood sector policies.
• Overall bank performance across the 34 sub-indicators was low, with an average score of 17%. Performance varied widely, ranging from a high of 66% to a low of 0%.
• There are distinct regional differences in policy robustness: European banks had the most robust policies and processes, with seven of ten disclosing seafood sector policies. In contrast, only one of 25 Asian banks and none of the six North American banks assessed publicly disclosed such policies.
• Banks' client expectations are unevenly developed across the seafood value chain. Requirements for wild-catch production are the most advanced, whereas expectations for aquaculture production and downstream clients (processors, brands, and retail) lack necessary detail.
• While 98% of assessed banks offer green financial products, these are primarily focused on climate risks in the energy sector. Only 17% (seven banks) have developed financial products specifically for the seafood sector.
• There is a total lack of transparency regarding the actual impact of seafood portfolios, as none of the assessed banks disclose information on the environmental or community performance of these portfolios.
• Participation in commitment-based sustainable seafood finance initiatives, such as the UNEP FI Sustainable Blue Economy Finance Initiative or the Ocean Risk and Resilience Action Alliance (ORRAA), is very low, with only 12% of assessed banks participating.

APA

Lynch, L. M. (2023). ABOVE BOARD: 2022 SUSTAINABLE BANKING 2022 BASELINE ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES. WWF International. https://www.worldwildlife.org/documents/199/8kkkonxl2j_2Assessing_Banks_Seafood_Sector_Policies.pdf

Chicago

Lynch, Lauren Meghan. ABOVE BOARD: 2022 SUSTAINABLE BANKING 2022 BASELINE ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES. WWF International, 2023. https://www.worldwildlife.org/documents/199/8kkkonxl2j_2Assessing_Banks_Seafood_Sector_Policies.pdf.

Wikipedia

{{cite report |last1=Lynch |first1=Lauren Meghan |title=ABOVE BOARD: 2022 SUSTAINABLE BANKING 2022 BASELINE ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES |publisher=WWF International |date=January 2023 |url=https://www.worldwildlife.org/documents/199/8kkkonxl2j_2Assessing_Banks_Seafood_Sector_Policies.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{lynch2023above, author = {Lynch, Lauren Meghan}, title = {{ABOVE BOARD: 2022 SUSTAINABLE BANKING 2022 BASELINE ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES}}, institution = {WWF International}, year = {2023}, month = jan, url = {https://www.worldwildlife.org/documents/199/8kkkonxl2j_2Assessing_Banks_Seafood_Sector_Policies.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }