Nestlé has invested in the Ocean 14 Capital Fund I, which focuses on delivering a sustainable and regenerative “blue economy,” as it looks to drive its path to net zero.
The blue economy involves the use of ocean resources for economic growth and preservation.
With the guiding principle of the United Nations Sustainable Development Goal number 14: Life Below Water, the Ocean 14 Capital Fund I has invested in entrepreneurs and businesses centred around aquaculture, alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
The Nestlé investment comes from its Sustainability Fund, which invests in innovative start-ups and partners that can support its journey to net zero.
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The investment is of particular value for driving sustainability within one of its leading categories, Nestlé Purina PetCare.
It will allow the manufacturer to explore low-carbon ingredients such as alternative proteins for pet food, as well as ensuring sustainable sourcing within its value chain.
It will also help the company to better protect the ocean ecosystem from which Purina sources its fish by-products.
Purina Europe recently announced its first Ocean Restoration Programme, aimed at helping to reduce marine biodiversity loss. As part of the programme, Purina has set itself a target to restore 1,500 hectares of marine habitats by 2030.
The company has also pledged to ensure that all of its seafood ingredients are responsibly sourced or are organic.
Dan Smith, head of Nestlé Purina’s global business unit, said: “The world’s oceans have suffered from overfishing, pollution, and climate change, resulting in the dramatic loss of marine habitats.
“That’s why we are delighted to collaborate with the Ocean 14 Capital Fund I. 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 recognise the potential within the blue economy and are dedicated to seizing the opportunities it presents.”
Chris Gorell Barnes, co-founder of Ocean 14 Capital, said: “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 make sure this vital economy can prosper.”
