Bain & Company initiative helps make shrimp fishing more sustainable

A project led by Bain & Company aims to make shrimp fisheries more sustainable. For the project the management consultancy partnered with The Nature Conservancy, a global conservation non-profit whose fisheries and aquaculture divisions address environmental and social issues.
The joint project encompasses a pilot phase in Ecuador and Thailand, with the possibility of being carried out in other countries in a later stage. The pilot has brought together farmers, retailers, non-profits, and more in Ecuador, which is home to shrimp fisheries so large that the team surveyed them by helicopter.
Ecuador became the world’s largest producer and exporter of farmed shrimp in 2022, following rapid growth in the sector in recent years. Thailand is another world leader, providing around 20% of the world’s supply of shrimp.
The pilot project, which first focused on Ecuador, could reduce the carbon footprint of the shrimp farming industry by 30% to up to 45%. There would also be additional benefits to consumers and farmers, on both small and large-scale farms.
The first step in the project was to investigate global shrimp production. Bain & Company and The Nature Conservancy analyzed consumer preferences and developed a framework to assess the climate impact of shrimp farms, focusing on land use, feed, and fuel.
This framework was applied to both large-scale and smallholder farms, identifying opportunities to improve sustainability, such as using deforestation-free feed and solar-powered equipment. Bain & Company aimed to create an open-source toolkit to enable other companies to replicate their findings and promote sustainable shrimp farming practices throughout the value chain.
With the pilot in Ecuador already in full swing, the team then began to focus on the shrimp industry in Thailand, where they hoped to apply the same strategy. If these two pilots end up being successful, it would mean the strategy could be applied in different countries with different sets of conditions.
The global shrimp industry faces significant sustainability challenges, including environmental degradation and social inequities. In fact, the industry’s carbon impact is actually higher than that of the chicken or pork industries.
By pioneering innovative approaches to sustainable shrimp farming, Bain & Company and The Nature Conservancy are contributing to a more responsible and resilient future for this vital sector, benefiting both producers and consumers.