Irresponsible financingShrimp fleet in harbour, Gulf of California, Mexico.
What benefits would sustainable fisheries bring?
United Nations Environment Programme (UNEP) has calculated that investing $110 billion over the coming years in strengthened fisheries management – including the establishment of Marine Protected Areas (MPA), the decommissioning and reduction of fleet capacity, and retraining of workers – will allow the planet’s fisheries to recover.
Such an investment, backed by strong policy measures, would result in an increase in catch levels from 80 million tons now to 90 million tons in 2050.
The world can no longer afford to delay restoring the health and wealth of the oceans. The half-billion people who depend on a healthy fishing industry, and the one billion who rely on fish as a primary source of protein, cannot wait another 20 years for the international community to act.
The benefits for the fishing sector of moving away from harmful subsidies is estimated to be 3-5 times the investment. That would be a great return on investment for both people and the ocean environment!