Resilient or environmentally friendly? Both are possible when seafood businesses prepare for long-term risks

Abstract

To ensure sustainable seafood production for future generations, seafood businesses must be resilient in the face of future shocks and stresses. Recent research suggests that by increasing alignment with principles of circular economy such as eliminating waste and regenerating natural environments, seafood companies may be able to improve their general resilience (i.e. resilience to unforeseen disruptions). Research presented here empirically explores potential links between circular economy, risk mitigation and resilience through a survey and workshops with seafood businesses in the United Kingdom. We found that many of the seafood companies participating in our research are actively implementing a range of circular economy actions such as recycling materials and minimising the use of single-use plastics. When identifying specific risks, businesses tended to adopt short-term mitigation measures that were less likely than longer-term measures to be aligned with circular economy principles. While businesses felt confident about their ability to adapt to and survive future risks, a focus on short-term risk mitigation might reduce their capacity to plan for longer-term risks. An inability to identify and prepare for longer-term risks may also impede businesses’ ability to increase their resilience to unforeseen disruptions and lock companies into a reactive, rather than a capacity-building cycle of risk mitigation.