Thai Union’s issuance of blue bonds in September has attracted significant investor interest and was oversubscribed 3.68 times. The canned tuna and seafood giant exceeded its target, set in 2023, of sourcing 75 percent of its long-term financing from sustainable sources by 2025 and is on track to reach 100 percent by 2030. Due to strong market demand, Thai Union increased the sustainability-linked bond of THB 7 billion (USD 216.4 million) for a five or ten-year duration to THB 9 billion (USD 278.2 million) by adding blue bonds with a term of 4 years.

Sustainability-linked instruments offer favorable financing terms upon achievement of set targets, while blue bonds allocate proceeds directly to ocean-related initiatives. Both instruments are closely linked to the company’s SeaChange® 2030 strategy. The transactions consisted a package of THB 10 billion (USD 309.1 million) in sustainability-related loans from a consortium of leading banks and a bond issue of THB 9 billion. Earlier this year, the company secured a THB 5 billion (USD 154.5 million) blue loan from the Asian Development Bank (ADB), bringing the total to THB 24 billion (USD 741.8 million) in blue financing.

Canadian NGO Ocean Wise has begun a new campaign, ‘Invest in the Ocean,’ to protect tuna and other marine life. The organization recently called upon governments and businesses to come forward to work towards conservation and climate solutions, but did not clarify the measures it would undertake for cleaner, healthier oceans. The NGO said in a statement that oceans produce over half the oxygen for humans and animals, regulate the earth’s temperature, and feed over 3 billion people worldwide. Hence, its conservation is more than a commitment to nature, and is an investment in global biodiversity, food security, and the future of our planet. The campaign will run in social media, digital displays, and broadcast channels for the next few weeks.

Lasse Gustavsson, Chief Executive of the NGO, said that the investments put into ocean conservation would yield long-lasting benefits. He explained: “The ocean is our greatest ally in the fight against climate change, absorbing carbon, safeguarding biodiversity, and sustaining billions of people worldwide, but it is also a driver of innovation, jobs, and food security.”

The regional government of Galicia (Xunta de Galicia) recently published in its official gazette that there are no environmental concerns for the Spanish tuna company Jealsa’s refurbished factory in Espiñeira industrial estate in Boiro. This plant will produce pet food for its Petselect brand. Some of the matters that were looked into in the report pertained to atmospheric and noise pollution, waste management, landscape integration, and the protection of wildlife and plants in the surrounding areas.

The report read that “it is not considered necessary to submit the project to an ordinary environmental impact assessment,” as the company had addressed all the environmental concerns, put forth by the Xunta, read Spanish news sites. The factory is situated in a 5,800 square meter plot, and is expected to be completed at a budget of EUR 20 million. It will produce 50 tons of pet food annually from the waste of tuna and other seafood. Jealsa launched its Petselect brand in 2019, and since then, has been processing pet food for this brand at the Boiro facility which recently got a makeover.