AQUABALANCE: Balancing economic, environmental, and social sustainability in the European aquaculture industry

Project summary

AQUABALANCE will explore strategies and best practices for balancing economic, environmental, and social sustainability and provide the aquaculture industry and stakeholders with new knowledge and evidence-based recommendations boosting the sustainability and viability of the sector. The project follows a pan-European perspective by focusing on different geographical locations and sea-basins (North Sea, Mediterranean Sea, Atlantic Ocean), mapping existing and promising solutions boosting the sustainability and viability of the aquaculture industry. Based on a mix of qualitative and quantitative methods, it will create new knowledge about how the European aquaculture industry can develop onwards in ways that are not environmentally harmful, and contribute to value creation locally, nationally, and internationally. By combining several theoretical perspectives (economic geography, socio-technical transition studies, and literature on sustainable business models), the project will provide valuable research-based insight and action points on an efficient and smart industry policy in order to successfully cope with the societal challenges of promoting economically robust, environmentally friendly, and socially inclusive industrial activities. AQUABALANCE will provide pan-European and regional industry and policy advice and a policy roadmap that has a transnational perspective and also can be adapted to the regional specificities. These recommendations will serve as a background for a more sustainable growth of the aquaculture industry, contributing to achieving the goals of the EU Farm to Fork strategy. Kicking off in April 2024 for a duration of 3 years, the project will begin with identifying barriers and drivers for the ongoing transition in the aquaculture sector. The consortium will carry out 12 qualitative case studies in different European hubs and a series of stakeholder workshops in order to investigate dilemmas associated with rebalancing the economic, environmental, and social dimensions and explore the role of policy. AQUABALANCE will also develop an assessment method for economic viability and environmental effects of new technological solutions. Moreover, the consortium will provide new knowledge on consumer preferences through a wide market survey and deliver sustainability communication toolkits for practitioners. To ensure wider impact beyond academia, policy recommendations will be co-created with stakeholders through a policy experimentation lab.