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Nestlé invests in Ocean 14 Capital Fund I to support the blue economy and Purina's sustainability journey
Nestlé has today announced an investment in the Ocean 14 Capital Fund I, which focuses on driving a sustainable and regenerative 'blue economy' - a sector that uses ocean resources for economic growth and preservation.
This investment is aligned with Nestlé's overarching sustainability goals and can provide opportunities to help advance the sustainability journey of one of its leading categories, Nestlé Purina PetCare, in particular. This includes 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.
Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, the Ocean 14 Capital Fund I invested in entrepreneurs and businesses with big ideas around aquaculture, alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
Nestlé has committed investment to the Ocean 14 Capital Fund I from its Sustainability Fund, which invests in innovative startups and partners that can support its path to NetZero.
This announcement follows the recent launch of Purina Europe's first Ocean Restoration Programme to help tackle marine biodiversity loss in Europe. Additionally, Purina remains committed to working towards its goal of ensuring 100% of its seafood ingredients are responsibly sourced or organic, and the company was proud to be a founding sponsor of The Bycatch Solutions Hub in 2023 by the Sustainable Fisheries Partnership. Purina is also supporting a consortium study to explore the role of seaweed-based biostimulants in regenerative agriculture.
Dan Smith, Head of Nestlé Purina's Global Business Unit: "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, a visionary partner that is at the forefront of exploring this field. 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, expressed his enthusiasm for Nestlé's investment and collaboration, stating: "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 make sure this vital economy can prosper."
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Nestlé SA published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 12:11:04 UTC.
