Playing God With Cod

The Shetland Islands, 150 miles off the northern tip of Scotland, are about as remote as it gets from London or the Caribbean. But for Laurent Viguie, 44, a financier in the City, and Karol Rzepkowski, 41, who was running a scuba and windsurfing business on Grenada, the storm-swept Shetlands with their clean, cold water were the perfect place to set up an environmentally friendly aquaculture business to produce cod.

Throughout European history, cod has been a staple food. But cod populations have plummeted. The worldwide catch has declined from 3.1 million tons in 1970 to around 800,000 tons today. The...

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