SUSTAINABLE BANKING ABOVE BOARD: 2023 ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES

The 2023 assessment of 40 banks reveals that while 23% showed improvements in managing E&S risks in the seafood sector, overall performance remains low with an average score of 21%. Asian banks drove most of the year-on-year progress and the issuance of new blue financial products, while European banks maintained the most robust policies. Despite growing awareness of nature-related financial risks, only 30% of assessed banks have seafood-specific policies, and many lack granular expectations for aquaculture and downstream clients.

• Overall bank performance in managing seafood sector E&S risks remains low, with an average score of 21% across 34 sub-indicators, a slight increase from 17% in 2022. The highest scoring bank aligned with 71% of indicators, while the lowest scored 0.
• Nine of the 40 banks assessed (23%) demonstrated improvements over the previous year's baseline. Of these, eight were Asian banks, indicating that the region is driving the majority of current policy progress.
• There is a growing trend in the development of 'blue' financial products, such as blue-labeled bonds and sustainability-linked loans. In 2023, 11 banks (28%) referenced the sustainable blue economy or marine conservation in their frameworks, up from seven banks (17%) in 2022.
• A significant gap exists between banks' general recognition of nature risks and the implementation of sector-specific policies. While 73% of banks publicly recognize E&S risks associated with climate change and biodiversity loss, only 30% have seafood-specific policies, and only 25% disclose them publicly.
• Bank policies are unevenly developed across the seafood value chain; expectations for wild-catch production are the most developed, whereas aquaculture and downstream client expectations are less granular.
• Regional performance varies, with European banks generally possessing the most robust policies and processes, while North American and Asian banks have historically lagged, despite the recent momentum in Asia.

APA

Lynch, L. M. (2024). SUSTAINABLE BANKING ABOVE BOARD: 2023 ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES. WWF International. https://www.worldwildlife.org/documents/103/987lg4lg1k_above_board_final_11042024_1_.pdf

Chicago

Lynch, Lauren Meghan. SUSTAINABLE BANKING ABOVE BOARD: 2023 ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES. WWF International, 2024. https://www.worldwildlife.org/documents/103/987lg4lg1k_above_board_final_11042024_1_.pdf.

Wikipedia

{{cite report |last1=Lynch |first1=Lauren Meghan |title=SUSTAINABLE BANKING ABOVE BOARD: 2023 ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES |publisher=WWF International |date=April 2024 |url=https://www.worldwildlife.org/documents/103/987lg4lg1k_above_board_final_11042024_1_.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{lynch2024sustainable, author = {Lynch, Lauren Meghan}, title = {{SUSTAINABLE BANKING ABOVE BOARD: 2023 ASSESSMENT OF BANKS’ SEAFOOD SECTOR POLICIES}}, institution = {WWF International}, year = {2024}, month = apr, url = {https://www.worldwildlife.org/documents/103/987lg4lg1k_above_board_final_11042024_1_.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }