Leading conservation organization The Nature Conservancy (TNC) announced earlier this month that it has teamed up with the Republic of the Marshall Islands (RMI) to reshape the world's canned tuna supply chain.
Pacific Island Tuna was formed through their partnership that intends to uphold the best environmental and labor practices, according to a press release.
"Pacific Island Tuna is showing the world that sustainability and profitability are not at odds, even in an industry that has been challenged by both," Gene Muller, Pacific Island Tuna's general manager, said in the press release. "Through close collaboration between resource owners and retailers, we can shape a different, more resilient future for the tuna industry, and the communities that rely on it. We are confident that this model will be adopted across the industry, benefitting both people and the planet."
The company plans to adopt a business model that will funnel all of its long-term net profits into environmental projects in the Pacific Islands and the local communities, the release stated.
According to the press release, Bain & Company helped form the business strategy which also incorporates high sourcing standards with the goal of improving the area's social and environmental statuses.
Pacific Island Tuna has been chosen by Walmart to be a supplier for the company's Great Value brand canned tuna, according to the release.