Green Practices Guideline for Fisheries Sector

1.4.4 BENEFITS OF GREEN PRACTICES Green practices in the fisheries sector in Malaysia offer numerous benefits that contribute to improved efficiency, reduced resource consumption, and enhanced sustainability. By adopting these practices, the industry can achieve the following advantages: 1. INCREASED EFFICIENCY AND RESOURCE CONSERVATION: Green practices result in improved efficiency, reducing the consumption of materials, energy, and water. Through optimised processes and technologies, businesses can minimise waste generation and achieve a lower intensity of resource usage. Examples include implementing energy-efficient equipment, adopting sustainable procurement practices, and optimising water usage, leading to cost savings and reduced environmental impact. 2. SUPPORT FOR GREEN INNOVATIONS: Embracing green practices in the fisheries sector fosters innovation in technology and processes. For example, the development and use of sustainable fishing gear, such as biodegradable or escape-friendly nets, contribute to reducing bycatch and ecosystem impacts. Similarly, exploring alternative fishing methods, such as aquaculture or sustainable fish farming practices, can enhance the industry’s sustainability goals and promote responsible fish production. 3. ENHANCED HUMAN RESOURCE UTILISATION: Green practices in the fisheries sector promote better utilisation of human resources by prioritising sustainable and responsible fishing practices. Investing in training programs that educate fishermen on sustainable fishing techniques, marine conservation, and ecosystem protection ensures a skilled workforce capable of driving efficiency and adapting to evolving sustainability requirements. This, in turn, improves productivity, job satisfaction, and long-term employment opportunities for fishing communities. 4. INCREASED PRODUCTIVITY AND REVENUE: Adopting green practices in the fisheries sector often lead to increased productivity and revenue. Implementing sustainable fishery management strategies, such as setting catch limits and implementing fishing seasons or marine protected areas, helps maintain healthy fish stocks and ensures long- term sustainability. This can lead to higher catch volumes, improved product quality, and access to premium markets that prioritise sustainably sourced seafood. 5. SUPPORT FOR ESG ASPIRATIONS AND SUSTAINABILITY REPORTING: Green practices in the fisheries sector align with Environmental, Social, and Governance (ESG) aspirations and sustainability reporting. By integrating the specific indicators outlined in green practice guidelines, fisheries can review, manage, and plan for more sustainable business decisions. This includes assessing and reporting on the environmental impact of fishing activities, promoting social responsibility within fishing communities, and practicing transparent governance to ensure responsible fishery management. 6. ADAPTATION TO GLOBAL INITIATIVES: The global trend towards sustainable fishing practices and responsible seafood consumption requires closer scrutiny of greener and more sustainable practices in the fisheries sector. Initiatives such as sustainable seafood certification programs and eco-labeling schemes are gaining traction worldwide. By proactively adopting green practices, the fisheries sector in Malaysia can position itself for compliance with evolving regulations, access new markets that prioritise sustainability, and contribute to global efforts for sustainable fisheries management. Implementing green practices in the fisheries sector brings direct and indirect benefits, ranging from environmental protection and resource conservation to improved productivity, profitability, and resilience. By achieving ESG objectives and aligning with global sustainability goals, fisheries companies can ensure their long-term survival, enhance their reputation, and contribute to a sustainable future for the industry and the nation as a whole. 28 GREEN PRACTICES GUIDELINE FOR FISHERIES SECTOR (AQUACULTURE)