Hooked on Sustainable Fishing is Mustad’s sustainability strategy launched to coincide with our 142nd anniversary. Here we outline our aspirations, ambitions and targets to become the most successful global brand and company in the fishing industry, and the first choice for sustainability conscious customers.
All economic activity impacts the environment and society, some of which are negative and others positive. We aspire to be a ‘Net Positive’ business, meaning we are committed to giving back more than we take from the natural world and enriching our employees and the regions in which we operate. Our products are sold in 160 countries, presenting us with an enormous responsibility and opportunity to use our global brand as a force for doing ‘more good’ and ‘less bad’ across our business activities.
We look forward to sharing our sustainability journey with you.
MUSTAD AND SUSTAINABILITY
Sustainability is about creating shared environmental, social and economic value
Sustainable development meets the needs of the present without compromising the ability of future generations to do so. Today, sustainability is challenged by global mega-trends including climate change, biodiversity loss, population growth and wide-spread inequalities. These challenges require actions by governments, business, organizations and individuals.
In recent years, the fishing tackle sector has become increasingly active with commitments and initiatives to protect target fish species and habitats. However, whilst something we wholeheartedly support, we believe our sector needs to do much more. We also need to address sustainable production and responsible product use. Therefore Mustad is taking the lead; we want to set the global benchmarks, to become the most successful brand and company in the fishing industry, and the first choice for sustainability-conscious customers purchasing our products.
Whilst bold, we believe our sustainability ambitions and aspirations are realistic. But delivering sustainability is also about creating the right business culture and an ongoing journey owned by all employees. Mustad consulted with our employees and management team to inform this Strategy. This enabled us to identify and map current and potential future business risks and compare these with the sustainability issues that matter to our key stakeholders. Secondly, we categorised supply chain risks from material sourcing through to production, distribution, retail, use and responsible product end-of-life considerations. This enabled us to identify the relationships between our business values and chosen sustainability targets.
OUR SUSTAINABILITY AMBITIONS
We will position social and environmental sustainability at the heart of product development.
We will be transparent in how we run our business responsibly and ensure product traceability.
We will become recognised as an attractive and responsible employer, recruiting and retaining talented employees.
We will engage and work with wider society to protect and enhance aquatic ecosystems.
We will take the lead in the fishing gear sector as an innovative, responsible and quality driven company.
OUR ENVIRONMENTAL FOOTPRINT
To lessen our effect on the environment, we have set goals to source 100% from renewable and recycled materials. Wehave chosen to integrate eco-design into new product development.
As a result, we are introducing packaging made from responsibly sourced and recycled cardboard, making our latest knife and tool range plastic-free. Mustad is also committed to phasing-out use of hazardous chemical and materials. To replace lead, we’ve launched a new range of fishing weights made from 97% tungsten.
TAKING CARE OF OUR PEOPLE
We have a responsibility to take care of our people. Each employee has the right to decent work and terms and conditions, including a living-wage, and safe and healthy working conditions, reflecting good practice in each operating region.
We acknowledge our employees’ rights to freedom of association, including forming and joining trade unions, and the right to collective bargaining. Mustad operates inclusive policies with respect to gender balance, ethnic diversity, disability and LGBTQ+ rights.
ADVANCING RESPONSIBLE BUSINESS
At Mustad our Norwegian heritage is reflected in our behavior – we strongly believe in cooperation and partnerships to find solutions to common business challenges.
To be successful, these require transparency, trust and innovation across the supply chain. This will bring scale and resources to help address common sustainability challenges which may be too large and complex to be adequately tackled alone.
PROTECTING AQUATIC ECOSYSTEMS
We are committed to working to build the necessary connectiveness between protecting and valuing aquatic ecosystems and recreational fishing as a healthy outdoor lifestyle choice. Central to this commitment, we will provide customers with advice on how to use our products responsibly, to maximize successful catch and release, and provide all returned fish with the maximum opportunity to breed and grow. Mustad will work to support regional initiatives - including beach clean-ups and activities aimed at protecting aquatic habitats.