Insights

On Board the Rainbow Warrior III

Domini was honored to be invited to participate in an event on board Greenpeace’s flagship, the Rainbow Warrior III, to celebrate progress in the protection of the canyons of the Bering Sea. We were asked to say a few words about our engagement with companies on sustainable seafood, and our interest as investors in preservation of these important undersea canyons. The small audience included Greenpeace staff and the ship’s crew, as well as a government scientist and members of the fishing industry (Read Greenpeace's blog post on the event).

Greenpeace has been diligently working to protect the Bering Sea canyons, a delicate ecosystem that is threatened by the lucrative Alaska pollock fishery. The area is a breeding ground for pollock and other species, and its exploitation threatens the entire fishery. Over the past year, we have raised these concerns with McDonald’s and Costco, two major seafood buyers.

On the eve of a critical meeting of the North Pacific Fishery Management Council in Juneau, Alaska, Greenpeace’s Oceans Campaign Director John Hocevar reached out with an urgent appeal. Despite serious scientific studies supporting the need for conservation, the Pollock fishermen were standing in the way of the development of a plan. We contacted both com­panies to ask them to intervene and were pleased to learn that our email to McDonald’s was circulating at the meeting. According to Hocevar:

“I do not know the details of what McDonald’s did, but it definitely got people’s attention in a very constructive way and was greatly appreciated by all of us in Juneau trying to move this issue forward.”

Greenpeace is cautiously optimistic that they now have a plan in place that they can work with. When shareholders express their concerns, it can make a big difference. We were pleased to play a small role in moving this issue forward on behalf of our Fund shareholders, and thank McDonald’s for their efforts.


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