Food giant Nestlé has announced a significant investment in Ocean 14 Capital’s Fund I, as part of its ongoing efforts to enhance the sustainability journey of Purina PetCare. This strategic move underscores Nestlé’s commitment to driving innovation and creating positive environmental impact within the pet food industry.
Closing of Ocean 14 Capital’s Fund I
Ocean 14 Capital’s Fund I has successfully closed, with the primary goal of driving a sustainable and regenerative blue economy. This fund seeks to utilize ocean resources responsibly to stimulate economic growth while ensuring the preservation and regeneration of marine ecosystems. The blue economy encompasses a range of sectors including sustainable aquaculture, alternative proteins, and marine conservation, all of which are critical to maintaining the health of our oceans.
The Importance of the Blue Economy
The blue economy is vital for the future of our planet. Oceans are essential for life on Earth, providing oxygen, regulating climate, and supporting a diverse range of species. However, overfishing, pollution, and climate change threaten these critical ecosystems. Investing in sustainable practices within the blue economy not only protects marine life but also promotes economic stability and growth.
Ocean 14 Capital’s Fund I is guided by the United Nations Sustainable Development Goal 14: Life Below Water, which focuses on conserving and sustainably using the oceans, seas, and marine resources. The fund has invested in innovative entrepreneurs and businesses that offer solutions in aquaculture, reducing plastic waste, protecting ecosystems and marine flora, and ending overfishing.
Chris Gorell Barnes, co-founder of Ocean 14 Capital, highlighted the significance of this initiative: “We are thrilled to have Nestlé on board as our partner in driving the transformation of the blue economy. Oceans are the critical life-support system for life on Earth. If it’s not functioning, it will be game over for humanity. Nestlé’s investment in the Ocean 14 Capital Fund I showcases their support to make the blue economy sustainable and regenerative, to protect and restore the oceans’ health, and ensure this vital economy can prosper.”
Nestlé’s Role and Commitment
Nestlé’s investment in Ocean 14 Capital’s Fund I underscores its dedication to sustainability and innovation, particularly within its Purina PetCare division. The project will see Nestlé exploring low-carbon ingredients, such as alternative proteins for pet food, ensuring sustainable sourcing within its value chain, and protecting the ocean ecosystem from which Purina sources fish by-products.
Dan Smith, head of Nestlé Purina’s Global Business Unit, emphasized the importance of this collaboration: “Together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean’s resources to ensure a more sustainable future. We recognize the potential within the blue economy and are dedicated to seizing the opportunities it presents.”
Nestlé’s involvement is a testament to its proactive approach in addressing global environmental challenges. By investing in Ocean 14 Capital’s Fund I, Nestlé is not only supporting the development of sustainable marine practices but also ensuring that its own supply chains are more environmentally friendly and resilient.
Addressing Climate Change and Ocean Health
The health of our oceans is intrinsically linked to the global climate. Oceans absorb a significant portion of the world's carbon dioxide emissions, helping to mitigate climate change. However, the increasing levels of pollution and overfishing are undermining this natural balance. Ocean 14 Capital’s initiatives aim to address these critical issues by promoting sustainable practices and reducing the environmental footprint of marine industries.
Nestlé’s investment aligns with broader efforts to combat climate change and protect ocean health. By supporting innovations in alternative proteins and sustainable aquaculture, Nestlé is contributing to the reduction of overfishing and the preservation of marine biodiversity.
Purina PetCare’s Sustainable Initiatives
This latest investment follows the recent launch of Purina Europe’s first Ocean Restoration Programme, aimed at tackling marine biodiversity loss in Europe. Additionally, Purina has pledged to ensure that 100% of its seafood ingredients are responsibly sourced or organic, further solidifying its commitment to sustainability.
In 2023, Purina became a founding sponsor of the Bycatch Solutions Hub by the Sustainable Fisheries Partnership, addressing the issue of bycatch – the unintentional capture of non-target species during fishing activities. Purina is also supporting a consortium study exploring the role of seaweed-based biostimulants in regenerative agriculture, highlighting its dedication to innovative and sustainable practices.
Conclusion
Nestlé’s investment in Ocean 14 Capital’s Fund I represents a crucial step towards fostering a sustainable blue economy. By supporting initiatives that promote responsible use of ocean resources, Nestlé is helping to ensure the long-term health of marine ecosystems while driving economic growth and innovation.
The collaboration between Nestlé and Ocean 14 Capital underscores the importance of private sector involvement in addressing global environmental challenges. As Nestlé continues to explore low-carbon ingredients and sustainable sourcing practices, it sets a benchmark for other companies to follow in the pursuit of a more sustainable future.
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