Blue Star Foods Attains Green Rating in Latest EcoVadis Scorecard

Rhea-AI Summary

Blue Star Foods Corp. (NASDAQ: BSFC) has been awarded a Green Rating in its latest EcoVadis scorecard, with a score of 53, a considerable upgrade from the previous Yellow Rating of 40. The company has also received a bronze medal for sustainability reporting achievements. Most subcategories scores, including Environment, Labor & Human, and Sustainable Procurement, have been rated Good to Advanced. However, there is more work to be done in Ethics & information security.

Positive

• None.

Negative

• The company still needs improvement in the Ethics & information security subcategory as per the EcoVadis assessment.

Significant Upgrade from Previous Rating

Miami, FL, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce that it has been awarded a Green Rating in its latest EcoVadis scorecard. EcoVadis is the world’s largest and most trusted provider of business sustainability ratings.

John Keeler, Chairman and CEO of Blue Star Foods, commented, “Our score of 53 for a Green Rating is a considerable upgrade from our previous Yellow Rating of 40, and now above the average rating of 40-45 for company our size. Additionally, we have been awarded a bronze medal in recognition of our sustainability reporting achievements. This is an outstanding achievement for a company our size with the limited actions/documentation we have been able generating on the last couple of years (post COVID). We can grow further by making some relatively small efforts and frequent reporting that can also help us monitor the supply chain for issues.”

Most of the subcategories scores, Environment, Labor & Human and Sustainable Procurement, have been rated Good to Advanced. There is more work to be done in Ethics & information security. 

EcoVadis is a globally recognized assessment platform that rates businesses' sustainability based on four key categories: environmental impact, labor, and. human rights standards, ethics, and procurement practices. EcoVadis’ mission is to provide reliable, globally recognized sustainability ratings and insights, enabling all companies to reduce risk, drive improvement and accelerate positive impact on our planet and society. 

EcoVadis helps you manage ESG risk and compliance, meet corporate sustainability goals, and drive impact at scale by guiding the sustainability performance improvement of your company and your value chain.

EcoVadis has screened over 1.6 million companies and rated over 100,000 companies in over 175 countries and ranging over 200 industries.

About Blue Star Foods Corp. (NASDAQ: BSFC)

Blue Star Foods Corp. an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: https://bluestarfoods.com

Forward-Looking Statements:

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contacts:
investors@bluestarfoods.com

FAQ

What is the latest EcoVadis scorecard rating for Blue Star Foods Corp. (BSFC)?

Blue Star Foods Corp. has been awarded a Green Rating in its latest EcoVadis scorecard with a score of 53.

What is the previous EcoVadis scorecard rating for Blue Star Foods Corp. (BSFC)?

The previous rating for Blue Star Foods Corp. was a Yellow Rating of 40.

What is the significance of the Green Rating for Blue Star Foods Corp. (BSFC)?

The Green Rating of 53 is a considerable upgrade from the previous Yellow Rating of 40, showing improvement in the company's sustainability performance.

What is the subcategories rating for Blue Star Foods Corp. (BSFC) in the latest EcoVadis scorecard?

Most subcategories scores, including Environment, Labor & Human, and Sustainable Procurement, have been rated Good to Advanced.

What is the significance of the bronze medal awarded to Blue Star Foods Corp. (BSFC)?

The bronze medal is in recognition of the company's sustainability reporting achievements.

What is the area that needs improvement for Blue Star Foods Corp. (BSFC) according to the EcoVadis assessment?

The company needs to work on improving the Ethics & information security subcategory as per the EcoVadis assessment.