Role of the fund – Since its establishment in 2017, The Norwegian Aquaculture Fund has paid out NOK17.1bn to coastal communities and authorities. Revenue is generated for the fund through production fees, sales and auctions of licences related to fish farming. Fifty-five percent of revenue from the sale of new farming permits goes towards the Aquaculture Fund along with the total production tax. The past two years, NOK6.1bn has been paid out to communities, of which 80% has gone to municipalities and 20% to country municipalities that have aquaculture activities.

Norwegian aquaculture – Norway is the second largest exporter of seafood globally. The Norwegian Seafood Council exported 2.8 million mt of seafood equalling NOK181.5bn in 2025, despite tricky trading conditions. From 2024, this is an increase of 4%, demonstrating the growing wealth of the sector. Since 2010, the value of Norwegian aquaculture has increased 270%, with average annual growth equalling around 10%. The Aquaculture Fund ensures communities hosting aquaculture firms also reap the rewards of the industry on their land.

Funding communities – Froya, one of the municipalities earning the most from the Aquaculture Fund, is located in Trondelag County. Mayor Kristin Stromskag noted it uses the money to improve the lives of inhabitants and to create a healthier economy. This can range from community events and renovations to attracting teachers to the area with bonuses. As many people can earn more in the aquaculture industry, lower-paying state roles such as teaching need an extra push to ensure appropriate people are filling the posts.

Inspecting dependency – The Aquaculture Fund allows locals to benefit from the profits of the aquaculture in their area. However, it also demonstrates how dependent communities are on the industry. Even with the Fund, Norway had to reform their tax system so wealthy fishing billionaires leaving the country did not severely impact local municipalities when they no longer paid an individual tax contribution. Furthermore, unsustainable intensive aquaculture methods are now damaging both wild and farmed fish stocks in Norway due to increased environmental pollution and sea lice outbreaks. This not only impacts the livelihoods of local people but paradoxically threatens the profitability of the aquaculture industry itself.

Success in sustainability – Pioneering companies including Ava Ocean are essential for sustained growth of the aquaculture industry. Ava Ocean has pioneered a non-destructive approach to harvesting Arctic scallops in the Barents Sea and was granted fishing rights following a 30-year ban that had been introduced to address the impacts of harmful trawling. Other companies, like sustainable cod-farmer Kime Akva, highlight their focus on creating positive local ripple effects. Supporting companies that prioritise environmental stewardship and local development will be key to ensuring that aquaculture continues to deliver long-term, equitable benefits across Norway’s coastal regions.

Looking forward – The importance of developing sustainable practices and the cooperation of public and private sectors concerning the ocean was emphasised at the World Economic Forum Annual Meeting in January through the initiative Blue Davos. The Norwegian Aquaculture Fund demonstrates one way in which public-private cooperation can be achieved. In future, further development of legally binding mechanisms will be essential to ensure private industries both create value and protect the environments on which they rely.