Integrated Multi-Trophic Aquaculture (IMTA) and sustainability- led innovations:The marine aquarium market

Title : Integrated Multi-Trophic Aquaculture (IMTA) and sustainability- led innovations:The marine aquarium market

Abstract:

The growth of the global marine aquarium market can be deemed to be one of the causes of the degradation of coral reef ecosystems. The need to balance economic interests and the protection of the biosphere has favored restrictive legislation on the importation of ornamental species used in the aquarium sector. This, consequently, lead to the promotion of the breeding of local species, incentivizing the implementation of innovative systems for the recovery of production waste in a circular economy perspective. In the present study, an innovative Integrated Multi-Trophic Aquaculture (IMTA) system – in which the coexistence of different organisms improves bioremediation performance – implemented in the marine area of Taranto (Italy) was considered, as well as the potential of the commercial outlet market. The present study is intended to show how the local farming of polychaetas through the IMTA system represents a sustainability-led innovation and can: 1) lead to ecological forms of farming; 2) facilitate a new substitute product development; 3) stimulate collaboration among fisheries and farmers; 4) close the production cycle of fish farming with a view to circularity. The study confirms how the establishment of sustainable forms of farming can help the economic growth in depressed areas.

What will audience learn from your presentation?

This study has implications both for companies and managers and for international rulers and institutions responsible for improving the environment:

• First, from a managerial point of view, it confirms the importance of developing synergies among companies and organizations of different industrial sectors, and the convenience of enhancing the economic and image value of final production waste. In addition, the focus on a circular and environmentally friendly economy enhances the company’s image and, especially in times of social media relevance, amplifies and enhances its reputation.
• Second, from a governance perspective, the study recognizes that it is unlikely that any single organization alone can create and sustain positive social and environmental outcomes. Given the dynamism of sustainability-led innovation systems the scope and boundaries of a strategy must be continually reevaluated to recognize and manage relevant effects and ensure maximum impact on people and the environment. Both national and international institutions should, therefore, incentivize such dynamics by empowering companies to collaborate, promoting such synergies both through research and development programs and tax breaks and concessions.

Biography:

Luigi Piper is Senior Assistant Professor of Business Management at the University of Salento, Lecce (Italy) and Assistant Professor of Destination Management at the University of Bari, Bari (Italy). He also taught Quantitative Methods in the International Doctoral Programme in Intercultural Relations and International Management at the International University of Rome (UNINT), Rome (Italy) and in the Doctoral Programme at the University of Salento. He is author of numerous articles published in national and international journals on topics such as consumer behavior, consumer psychology, and digital marketing, and two books on food marketing, and consumer psychology. He is involved in several European Projects with the Department of Biology of the University of Salento and of the University of Bari, and with the National Research Council - Water Research Institute (Italy).