The Fisheries Research and Development Corporation (FRDC) is seeking support to plan and develop an Environmental, Social and Governance (ESG) framework for fisheries and aquaculture to address the requirements of several stakeholders (government, investor, consumers) and be a leader addressing key current and emerging ESG trends and expectations. The ESG Framework would cover all fisheries and aquaculture sectors (Indigenous, commercial, wild catch, and recreational).

The proposal sets our suggested approach to developing an ESG framework development plan for Australian fisheries and aquaculture. It includes our proposed methodology, budget and work plan, as well as information on our team and experience.
The overarching objectives of this engagement are as follows:
- Identify the unifying purpose of an ESG framework for Australian fisheries and aquaculture, the drivers that will shape it and the intended audience.
- Review relevant frameworks, standards and agreements to identify existing requirements and best practice related to ESG for Australian fisheries and aquaculture.
- Provide options for how the Australian fisheries and aquaculture sector could design and structure an ESG framework aligned to existing frameworks and systems, and reflecting monitoring and evaluation aspirations and the unique needs of fisheries and aquaculture.
- Prepare an ESG framework development plan which clearly outlines and prioritises the steps that need to be taken to establish and build a mature framework for Australian fisheries and aquaculture.

Please refer to the attached file (Our Recommended Approach Section, pages 14 - 22) for our detailed approach based on our understanding of your needs (P0710649 Fisheries and aquaculture ESG Framework_V2_STC).

AIA is in active conversations with a private sector consortium. These discussions continue to validate AIA’s approach and solution design. They see clear efficiencies in bringing the RDCs’
commodity-specific carbon research and knowledge together and want to be able to include this type of carbon footprint solution in their own client service offerings.

They are concerned about growers’ lack of preparedness to respond to increasing pressures around demonstrating their carbon footprint and have confidence in a not-for-profit company
like AIA housing the solution and being trusted by growers.

There is acknowledgement that Australia is in a prime position to get this right from the start and avoid the duplication and fragmentation that other countries are now facing.

There were 13 RDCs participating in this phase, involving over 120 interviews across multiple commodities/sectors.
Insights gathered include:
• Many growers are operating mixed enterprises or are keeping that option open to manage risk into the future.
• Concerns include market access, social license, environmental impact.
• Most see a level of reporting required in the near-to-medium future, related to pressure from supply chains, finance or insurance sectors.
• They want the ability to understand and make decisions for their enterprises before regulatory or supply chain pressures intensify.
• Recognition of the need to bring all commodity calculators into one, consistent platform.

These insights speak to the growing importance of and need for the solution approach that AIA is taking.

A Discovery Insights Report, including a specific fishing and aquaculture report, was provide to FRDC in May 2023.