Jiahong Julia Fu, Siyi Lisa Feng
Through the introduction of a tri-part framework focused on commercial, legal, and ethical
considerations, this article examines the case of Iceland’s fishing industry to explore key
concepts of sustainability. The article focuses on the fishing sector, specifically, as it is poised to
grow exponentially in the coming years, as the world looks to more eco-friendly alternatives for
land-based meat (e.g., beef, pork). Iceland was selected as the ideal case study for exploring
these concepts because not only is the fishing sector well-established within the nation, but
because the country’s industry has incorporated environmental, social, and governance (ESG)
standards into its operations. Iceland’s fisheries demonstrate ecological stewardship through the
use of a monitoring system that collects data on the total number and type of species caught,
utilizing all parts of the fish and minimizing waste, and employing responsible harvesting
methods. They exemplify social responsibility by adopting fair labor laws at the federal level that
protect temporary and foreign workers and engaging in responsible marketing and ecolabeling.
While Icelandic fisheries are presented as pioneers in sustainable business, this discussion also
attends to areas for improvement, including issues pertaining to equal access to fishing rights
among smaller or newer companies and concerns for animal welfare in farm-raised fishing and
open-water catches. However, both the areas where Iceland’s fishing industry excels and falls
short represent key considerations that can ideally be applied to a variety of other cultural contexts and economic sectors so that true sustainability is no longer seen as bound by region or
industry.