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EXECUTIVE SUMMARY

The Expert consultation workshop on the development of principles for responsible investment in aquaculture in the Mediterranean and the Black Sea took place on 1 July 2021 and was conducted online. The workshop aimed to initiate dialogue among relevant stakeholders and experts, in order to lay the foundation for the development of principles for responsible investment in aquaculture (PRIAq) in the Mediterranean and the Black Sea. The objectives of the workshop were to i) better identify the strategic framework and governing principles for responsible investment in aquaculture and ii) support the GFCM towards the proposal of a roadmap for the development of PRIAq. The expert consultation workshop was attended by 110 experts and industry stakeholders.

The workshop was held within the framework of the GFCM 2030 Strategy for sustainable fisheries and aquaculture in the Mediterranean and the Black Sea, in line with the objective to develop a set of principles that will help create a more enabling environment for responsible investment in aquaculture, support blue economy in the region and ultimately enhance the benefits of such investments for the people in the Mediterranean and Black Sea countries. These principles are expected to act as a tool for national and international development organizations and respective financial institutions to better design and provide targeted blended finance to aquaculture and effectively attract the necessary private financial resources for the sustainable growth of the sector.

Prior to this workshop, the GFCM launched an expert consultation as the first step towards developing the concept of responsible investment in aquaculture in the Mediterranean and the Black Sea. The project consisted of an online survey directed to industry stakeholders and select experts in order to collect their views and perspectives on the topic, thereby developing the foundation upon which a dialogue could be initiated to identify the governing framework for the subsequent development of the related principles. The findings from the online survey were presented at the workshop.