Aquaculture is becoming an increasingly important source of fish (and protein); looking to the future there is an expectation that aquaculture will contribute significantly to world food supplies and security. Over the past four years the AQUADAPT project has been carrying out research in the aquaculture sector in Northern Thailand aimed at improving the management of climate-related risks and exploring strategies for adaptation to longer-term changes in climate. The findings revealed numerous technical, managerial and social innovations that can contribute to improved management of climate-related risks to fish farms. They also provide a nuanced understanding of how risks are perceived and decisions made – key to successfully sharing innovative practices. At the same time the studies underlined how water policy has largely overlooked the aquaculture stake. This is a significant omission on two fronts. On the one hand, successful aquaculture depends greatly on having access to sufficient, good quality water, and water demand is rising. On the other hand, aquaculture activities can degrade water quality and impact ecosystems. These findings while based on work on commercial aquaculture in Thailand, are of wider significance for understanding the roles of innovation and water governance for adaptation in the aquaculture sector.