The approved Aquaculture Green List, used to identify eligible clients and companies for financing by the fund, is comprised of six measures for production and one measure for processing. The measures for production are: biodiversity impact assessments, effluent management, sustainable inputs, sustainable feed, procurement of post larvae, green equipment, and infrastructure; and the measure for processing is the recycling of shrimp waste.
The Development Facility continued its work with a pilot project that contributed to raising awareness of the importance of sustainable production practices in the shrimp industry and explored how financial institutions could offer financing for aquaculture companies committed with transitioning to sustainable production practices. Specifically, the Facility selected two shrimp companies in Ecuador, that complied with a set of environmental safeguards such as not having engaged in deforestation of mangroves after 1999.
The pilot project identified the gaps these companies need to fill in order to qualify for Aquaculture Stewardship Council (ASC) certification, as well as identifying Green List measures that could be implemented in their companies. These findings were then used to implement action plans that outlined the practices to improve their environmental, social, and business performance, including:
1. Conducting Biodiversity Environmental Impact Assessments:
- Biodiversity services and values identified in consultation with workers and communities.
- Definition of a biodiversity management system including targets and monitoring strategies.
- Surrounding areas reforested with 760 native plants that would increase biodiversity and protect the local ecosystems and conservation value areas.
2. Operating farms with consideration for surrounding communities:
- Participatory Social Impact Assessments
- Focus group with surrounding communities
- Risk analysis and definition of a social management system
3. Training beneficiaries of the project on:
- The principles and criteria of ASC certification
- The aquaculture green list of the eco.business Fund