Ocean Grown Abalone (ASX:OGA) - Managing Director, Brad Adams - The Market Herald
Managing Director, Brad Adams
Source: Augusta-Margaret River Mail
Market Herald logo


Be the first with the news that moves the market
  • Ocean Grown Abalone (OGA) is seeking Marine Stewardship Council (MSC) certification to support the marketing of its WILD Two Oceans Abalone brand
  • The independent audit is scheduled to begin in July and is also set to validate the company's sustainability credentials
  • Additionally, the WA government is funding an assessment of OGA's abalone reefs in Flinders Bay as a potential enhanced, wild greenlip abalone fishery
  • Company shares are down 3.6 per cent to eights cents apiece at 1:45 pm AEST

Ocean Grown Abalone (OGA) is seeking Marine Stewardship Council (MSC) certification to support the marketing of its WILD Two Oceans Abalone brand and validate the company's sustainability credentials.

MSC is an independent, not-for-profit organisation that works to ensure the sustainability of wild global fish stocks and the health of marine ecosystems.

The planned third-party assessment of OGA's credentials will comprise an audit against MSC's criteria, commencing in the July quarter.

MSC Senior Fisheries Manager for Australia, New Zealand and Southeast Asia, Matt Watson, said to gain MSC certification, "fisheries must undergo an independent audit, which is built around three key principles: the health of target stock, impact on the marine ecosystem and management of the fishery.

"It is heartening to see OGA commence this journey as they look to demonstrate their sustainability against the MSC Fisheries Standard."

In the March quarter, an independent gap analysis determined OGA's abalone reefs in Flinders Bay, Augusta, were in scope to be assessed as a "hatch and catch", enhanced, wild greenlip abalone fishery.

Western Australia's State Government is funding the assessment and, in partnership with the WA Fishing Industry Council (WAFIC), will support the process so OGA can achieve external sustainability accreditation.

Department of Primary Industries Deputy Director General Sustainability and Biosecurity, Heather Brayford, said OGA had developed a unique and sustainable abalone business model.

"They are industry leaders in their field and this step towards MSC certification, supported by WA Government funding, is seen as further validation of Western Australia’s commitment to protecting our pristine marine environment," Ms Brayford said.

"Independent, third-party certification of our wild and sustainability credentials is an important process to validate our sustainability ethos," OGA Executive Director Brad Adams added.

On the market on Friday, Ocean Grown Abalone shares fell 3.6 per cent to eight cents each at 1:45 pm AEST.

OGA by the numbers
More From The Market Herald
PlaySide Studios (ASX:PLY) - CEO & Managing Director, Gerry Sakkas - The Market Herald

" PlaySide Studios (ASX:PLY) extends agreement with Facebook Technologies

PlaySide Studios (PLY) is set to extend its current work-for-hire development agreement with Facebook Technologies for a further six months.
Fiji Kava (ASX:FIJ) - - The Market Herald

" Fiji Kava (ASX:FIJ) partners with iTaukei to develop supply chain in Fiji

Fiji Kava (FIJ) has signed an agreement with the iTaukei Trust Fund Board (TTFB) to develop its supply chain and relationships with commercial
The Food Revolution Group (ASX:FOD) sees brand expansions

" The Food Revolution Group (ASX:FOD) sees brand expansions

The Food Revolution Group (FOD) has seen its original black label and juice lab brands expand.
Fiji Kava (ASX:FIJ) drives down loss amid revenue increase in FY21

" Fiji Kava (ASX:FIJ) drives down loss amid revenue increase in FY21

Fiji Kava (FIJ) ended the 2021 financial year with a reduction in its net loss, after its revenue grew by 52 per cent.