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).

There is a need to increase effective engagement between fishing and aquaculture stakeholders and climate science and scientists in an ongoing strategic way, and not ‘just’ for single-project outcomes.

Improved engagement will help increase understanding of the likely implications of a changing climate in relevant contexts, and lay foundations for a shared exploration of available options for reducing risk exposure. We have worked with stakeholders and the FRDC Extension Officer Network to design a strategy that will engage fishing and aquaculture stakeholders on existing knowledge regarding risks and opportunities associated with a changing climate, to enable resource managers and researchers to better understand the ways in which many sectors are already adapting autonomously and to identify the barriers to further adaptation, and to co-design solutions that are relevant at local- and industry-levels to help build climate-ready communities and to stimulate economic resilience.

In many cases (but not all), extensive information regarding marine climate change - including key risks to fisheries and aquaculture producers (at a high level) - is already available, along with information on how to develop adaptation plans. However, despite this, progress and uptake within most sectors in terms of planned adaptation responses has been very slow – although many individual operators are already making ‘autonomous’ changes to their day-to-day operations in response to climate change drivers. If these changes are being made without access to best available knowledge, then it is very likely that substantial portions of these responses are maladaptive in the longer term, or may be countervailing to planned government adaptations (see Pecl et al 2019, Ambio, https://link.springer.com/article/10.1007/s13280-019-01186-x). This is a pattern evident within many different industries around Australia and across the rest of the world. ‘What’ needs to happen has thus been outlined in general terms in many cases, but such information is not co-developed or provided in consultation with end-users in ways that resonate or are useful to them. This project will address this need for relevance and usefulness.

The project aims to develop reflexive, ongoing, and two-way knowledge exchange between industry representatives, operators and manager, and the marine climate change impacts and adaptation research sector, so that solutions are co-designed, usable, and adoptable.