Partner Letter to EIB: OceanLoop Shrimp Farming Project (December 2024)
Stop Financing Factory Farming
1st January '25
In December 2024, the Aquatic Life Institute and 140 members of the Aquatic Animal Alliance (AAA) sent a letter to the the European Investment Bank (EIB), raising concerns over their 35 million euro funding for OceanLoop Management’s large-scale shrimp farming operation in the Canary Islands (Spain).
The letter raises serious concerns about the project, including:
- Approval was delayed for four months without public disclosure, denying stakeholders the opportunity for input and transparency.
- Recirculating aquaculture systems (RAS), like those proposed, consume 5 to 25 times more energy than other aquaculture systems, significantly increasing the carbon footprint.
- Farmed shrimp endure an estimated 157 hours in disabling-equivalent pain due to barren, overcrowded farming conditions, leading to high stress and mortality rates.
- The prophylactic use of antibiotics in shrimp farming contributes to antimicrobial resistance, posing risks to both human and environmental health.
In the letter, members urged EIB to:
- Require public disclosure of all industrial animal agriculture projects before approval.
- Classify such projects as high risk due to their biodiversity, climate, social, and welfare impacts.
- Mandate detailed plans for environmental and welfare safeguards, including humane stunning and slaughter practices.
Read the full letter below to learn more.
