As a processor and supplier of tuna products to international markets, we recognize the growing emphasis our stakeholders place on Environmental, Social, and Governance (ESG) practices. The expectation for us to proactively manage ESG risks is increasing, and we are committed to embedding these values at the core of our operations.

In 2022, we began developing a comprehensive ESG framework to ensure ongoing monitoring, improvement, and transparent reporting of our ESG efforts. Since then, we have achieved key milestones and are focused on further strengthening our commitments in 2024 and beyond.

Responsible Sourcing

We procure tuna from artisanal fleets in the Maldives EEZ using sustainable pole-and-line, and handline methods, ensuring abundant stocks without bycatch. Maldives bans purse seiners and long liners, adhering to strict harvest controls for sustainable tuna populations as recommended by the IOTC. We hold MSC, Dolphin Safe, and Friends of the Sea certifications and are implementing ISO 14001 standards for our EMS, with certification anticipated soon.

Energy Efficiency

Our factory's energy use currently fluctuate between 350 kW and 750 kW per hour, depending on the volume of production. We've boosted efficiency through fuel-efficient and capacity-varied generators, smart load shifting, energy-saving refrigeration configurations, and high-efficiency LED lighting. We're also installing solar panels projected to generate 100,000 kWh monthly, reducing carbon emissions by 804 tonnes yearly.

Transportation Carbon

With the commencement of operations at our new factory, we have shifted a significant portion of our production to value-added frozen yellowfin tuna, now transported by sea instead of air. This transition is expected to reduce our carbon emissions by an estimated 7,000 metric tonnes annually. As part of our strategy to lower the environmental impact of transportation, this move aligns with the Maldives' carbon neutrality goals by prioritizing sea freight.

Water conservation

Sourced through desalination, our daily consumption stands at at 80-120 metric tons, serving both our facility and the fishing fleet. To optimize water efficiency, we monitor usage with smart meters, conduct routine leak inspections, and employ self-closing taps. High-pressure, low-volume sprays are used for cleaning, coupled with staff training focused on targeted water use. Complementing these measures, we conduct monthly audits to identify and act on any inefficiencies, all part of our water conservation strategy aligned with our broader ESG objectives.

Refrigerants

Our refrigeration systems use HFCs with lower Global Warming Potential and zero Ozone Depletion Potential, avoiding CFCs and HCFCs entirely. Recent upgrades include retrofitting ice machines to use R407c, reducing environmental impact. We also ensure the containment and recycling of refrigerants and adhere to EPA 608 standards through rigorous staff training, reflecting our commitment to environmental responsibility.

Waste Management

We're addressing waste from tuna processing (25% of total weight) by investing in a fish meal plant for poultry and mariculture feed, operational by mid 2025. This initiative supports sustainable grouper aquaculture, reducing wild fish harvesting and preserving reef biodiversity. For liquid waste, including blood and brine, we're implementing measures like using solid waste as chum, employing vacuum hoses for cleaning, and fitting drains with traps to minimize effluent. Hazardous waste management adheres to HACCP and local regulations.

Employees

We're committed to a workplace where safety, equality, and well-being are prioritized, exceeding local and ILO standards. Our practices align with Amfori BSCI and ICS certifications, promoting a culture of leadership and initiative. Our HR policies ensure equal opportunity and aim to eliminate the gender pay gap, with 33% of leadership roles held by women. Employee benefits include superior health insurance, fair pay 15-25% above industry average, free food and accommodation, and generous paid time off. We also offer a grievance management system and regular recreational activities to foster a positive and inclusive work environment.

Fishermen

Our partnership with Maldivian fishermen is built on a foundation of respect and fairness. We offer competitive prices, timely payments, and additional support such as free ice and financial assistance for unexpected expenses. Unique in the Maldives, we also provide free electricity, drinks, WiFi, and laundry at our harbor to ensure their comfort during their stay. Our COO engages with the fishermen daily, fostering close relationships and ensuring open communication to address their needs and challenges. This commitment reflects our belief that the success of our business is deeply tied to the well-being of the fishing communities we work with.

Community

We are a key contributor to the local economy of Himmafushi and the fishing islands that supply us with fish. We actively engage with the island communities, regularly supporting communal projects and events that promote social and economic well-being. In 2025, we plan to launch a program focused on supporting early childhood education, aimed at fostering essential skills and providing a strong foundation for future generations. This initiative reflects our long-term commitment to making a positive impact beyond business operations.

Customers

Building strong relationships with our key customers is essential to our success. Our policies focus on mutual growth through fair pricing, quality assurance, efficient claims handling, and flexible credit terms to enhance their market position and liquidity. We prioritize equitable stock distribution and maintain regular, high-level communication to address supply and quality proactively. Looking ahead, we plan to introduce an AI-powered app in early 2025, providing real-time inventory visibility and seamless booking functionality for our distribution partners.

Achievements

Since introducing our ESG program in 2022, we have made steady progress, with most key governance initiatives now in place. Emphasizing board independence has helped ensure that diverse perspectives and expertise inform our decision-making. We have also implemented transparent compensation policies to reinforce accountability and align with ethical leadership principles. Additionally, ongoing internal audits support our focus on maintaining responsible business practices and long-term sustainability.

Future Plans

We aim to lead in proactive, data-driven governance by leveraging artificial intelligence to boost efficiency and streamline decision-making. AI can transform transparency and stakeholder engagement with real-time insights and automated processes. Our goal is to maximize operational efficiency with a minimal workforce, staying agile and responsive while fostering a culture of responsibility for a sustainable future.

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