Published: 5 January 2023 Updated: 20 February 2023
2030 vision The FRDC will invest to achieve the shared vision of Australia’s fishing and aquaculture sectors of building collaborative, vibrant fishing and aquaculture, creating diverse benefits from aquatic resources, and celebrated by the community.
FRDC’s outcome Increased economic, social and environmental benefits for Australian fishing and aquaculture, and the wider community, by investing in knowledge, innovation and marketing.
FRDCs mission To act as a national thought leader, facilitating knowledge creation, collaboration and innovation to shape the future of fishing and aquaculture in Australia for the benefit of the Australian people.
FRDC’s role To plan, invest in and manage research and development for fishing and aquaculture, and the wider community, and ensure that the resulting knowledge and innovation is adopted for impact.
Governance

FRDC is committed to best practice and recognises the value of corporate governance principles.

The governing body of the FRDC, the Board, provides oversight within the following legislation:

  • Primary Industries Research and Development Act 1989 (PIRD act),
  • Public Governance, Performance and Accountability Act 2013 (PGPA act).

The Board’s objectives are to add value by ensuring that appropriate governance is in place by:

  1. setting the strategic direction of the FRDC,
  2. developing policy to help implement this direction,
  3. monitoring and supervising systems that deliver the results of the FRDC,
  4. ensuring accountability (including engaging with, and reporting to, stakeholders),
  5. ensuring legal compliance.
Stakeholders The FRDC works with a diverse and geographically dispersed collective of stakeholders that share a connection and interest in fishing and aquaculture. among these are four ministerially declared representative organisations (see www.frdc.com.au). more broadly, FRDC works with members of commercial wild catch, aquaculture, recreational, indigenous and post-harvest sectors, fisheries managers, researchers, non-government organisations and the Australian community.
Revenue

Revenue for research and development (R&D) investment is collected through:

  1. Australian government unmatched funds equivalent to 0.50 per cent of the average gross value of commercial Australian fisheries production (AGVP) for the current year plus the two preceding years,
  2. commercial fishers and aquaculturists contribute at least 0.25 per cent of AGVP,
  3. Australian government matches these contributions up to a maximum of 0.25 per cent of AGVP.
Planning The purpose of this R&D Plan is to set a five-year strategic direction for the FRDC. supporting the R&D Plan itself are annual operational plans and targeted measures for each outcome and enabling strategy to identify FRDC’s investment priorities over the next five years.

The FRDC will ensure this R&D Plan has meaningful impact by contributing to national and international targets and commitments, such as the national marine science Plan and the United Nations sustainable Development goals.
Reporting Reporting of progress against this R&D Plan will be consistent with a performance management framework in alignment with the FRDC’s statutory obligations. this framework sets out how achievement along the way will be evaluated using metrics that are appropriate, timely and provide an accurate picture of FRDC’s investment.
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