Shelf-stable seafood company Bumble Bee Seafood Company has announced a $40m investment fund for initiatives involving plant-based foods and sustainability.

Through its dedicated Accelerator Fund, the company aims to address some of the biggest challenges in the sustainability space.

Bumble Bee Seafood Company president and CEO Jan Tharp said: “Our sustainability journey started many years ago and we’re proud of our past accomplishments, but now is the time to accelerate our actions.

“It’s the right thing to do for our planet, for the billions of people who rely on seafood for sustenance and for the long-term success of our business.”

As part of the initiative, Bumble Bee intends to focus on plant-based foods by providing alternative, sustainable ways for consumers to enjoy ocean-inspired food.

Earlier this year, the seafood company entered a joint distribution venture with Good Catch Foods to foray into the plant-based protein sector.

The company said that it has also partnered with FCF Fishery Company and Ocean Outcomes to launch a longline albacore fishery improvement project (FIP) in the Indian Ocean.