STATEMENT OF POLICY

The Canfisco Group’s business includes the fishing, processing and marketing of seafood products and is dependent on the sustainability of fishery resources. Therefore, as a responsible stakeholder, the Canfisco Group is committed to working with fisheries management agencies, local communities, First Nations, environmental groups and other stakeholders to ensure effective resource management systems are implemented that promote sustainable harvest of marine resources and maintenance of healthy ecosystems.

FISHERIES MANAGEMENT

In Canada, the federal government’s Department of Fisheries and Oceans is responsible for managing fisheries and the ocean environment while, in Alaska, the fisheries are managed by the State of Alaska Department of Fish and Game whose mandate on sustainability is written into the State’s constitution.

The fisheries management systems for Canada and Alaska are among the most sophisticated in the world and engage in a number of strategies to manage and protect the fisheries stocks and their habitats:

• Total Allowable Catch (TAC) – establishes a scientifically based harvest limit.
• Time-And-Area Closure – restricts fisheries to defined times and areas.
• Boat Restrictions – sets a maximum size of fishing boats.
• Gear Prohibition – restricts certain gear types.
• Fishery Limitations – controls through licenses and quotas.

RESPONSIBLE FISHING PRACTICES

The Canfisco Group has been a signatory to the Canadian Code of Conduct for Responsible Fishing since 1998. The Code includes conservation principles and practical operational standards aimed at ensuring responsible fishing practices in Canadian waters.

The objective is to promote responsible fishing, conservative harvesting technology and sustainable development based on a United Nations Food and Agricultural Organization (FAO) code developed in 1995 in recognition of the pressure on many fishery stocks around the world.

The Canfisco Group is committed to working with recognized international conservation organizations, including the David Suzuki Foundation, the Marine Stewardship Council, Sea Choice, and Ocean Wise to continuously improve the management of all the fisheries in which we participate.

Alaska’s salmon fisheries are recognized worldwide as amongst the healthiest and most sustainable and have achieved the Marine Council Stewardship Certification for Sustainable Fisheries (MSC). All of the fisheries in which we operate in British Columbia are in the MSC certification process and it is our goal to ensure they will all meet the MSC or an equivalent sustainability standard.

OTHER INITIATIVES

In addition to our commitment for the sustainability in management of fisheries, the Canfisco Group has implemented other important initiatives to contribute to a green and healthy environment, including:

• Being one of the first integrated seafood companies to measure and develop options for managing the carbon footprint of the Canfisco Group’s operations and products.
• Having a comprehensive 3R (Reduce, Reuse, and Recycle) Program.
• Mandating a “Green Team” representing all aspects of the Canfisco Group to develop new initiatives that will enhance our environmental responsibility.