Please select your home edition
Edition
Naiad

Multi-billion dollar cost to fix global fisheries - but there is hope

by Media Services on 17 Jul 2012
Fisheries will be more valuable in the future, if stocks are left to recoup. .. ©
A new study by the University of British Columbia, Canada, estimates the cost of fixing global fisheries at around $292 billion and, on the upside, the research states that stocks would rebound if subsidies were dramatically reduced.

Rebuilding global fisheries would make them five times more valuable while improving ecology, according to a new University of British Columbia study, published July 13 in the online journal PLoS ONE.

It could cost up to $292 billion and take almost three decades, but University of British Columbia economists and ecologists have a proposal to save the world's fisheries. The report, titled 'Benefits of rebuilding global marine fisheries outweigh costs', blames government subsidies totalling $27 billion globally for over-fishing because the subsidies artificially support the industry. But it also acknowledges governments find rebuilding fisheries too costly in the short term.

The study was released last Friday in the online journal of the Public Library of Science. The team led by UBC professor, Rashid Sumaila called on governments worldwide to dramatically reduce subsidies to fisheries in a bid to stop unprofitable and unsustainable fishing.

He said eventually these cuts would result in more robust fish stocks and fisheries worth $54 billion, a great improvement from the $13 billion they lose each year.

'There are too many boats going for the fish. A key component is reducing the number of boats and therefore the number of people fishing. This is not going to be an easy thing, because fishers need their livelihood. They need to keep busy while the fish [stocks] rebuild,' he said.

The cost of that transition, including compensating and retraining fishermen, is $130 billion to $292 billion and will take four to 26 years, depending on the species and the health of the stock. But countries could recoup that expense within 12 years, and in 50 years, the return on investment could be three times the cost, the study states.

Cutting subsidies doesn't have to mean the money leaves the communities that rely on the industry, but could be redirected to retraining and other support. Experts also point to climate change as a potential threat to what they call one of the world's most important renewable natural resources, particularly for food security in developing countries.

Sumaila said he and his team are now working on modelling to discover how much rising ocean temperatures could cost the fishing industry in the future.

Read the full report at http://www.plosone.org/article/info%3Adoi%2F10.1371%2Fjournal.pone.0040542
upffront 660x82Colligo Marine 660x82Naiad

Related Articles

World's First photochromic bi-focal sailing glasses by BZ Optics
BZ Optics, an Australian start-up company have just developed unique sunglass which is specifically designed for sailors BZ Optics- an Australian start-up company have just developed a unique sunglass which is specifically designed for sailors who require glasses to read their watch, computer, digital screens or charts while sailing in no or low light conditions.
Posted on 28 Sep
Mirabaud Yacht Racing Image exhibition at the World Sailing conference
The Mirabaud Yacht Racing Image award keeps growing and improving its structures. World Sailing’s annual conference reassembles World Sailing member national authorities, Committees, Sub-committees, Commissions, Class Associations, sailors, event organizers, boat manufacturers and observers. Up to 700 delegates are expected in Barcelona this year.
Posted on 26 Sep
Olympic Gold medalist and Volvo Ocean Race winner up for WS Board
Torben Grael (BRA) is amongst the 15 nominations for one of seven places on the Board of Directors of World Sailing Torben Grael (BRA) is amongst the 15 nominations for one of seven places on the Board of Directors of World Sailing in November. The five times Olympic medalist, Volvo Ocean Race winner and several times America's Cup competitor will bring a much needed sailing edge to the Board of World Sailing if he can navigate the politics of the controlling body of the sport.
Posted on 25 Sep
Southern Spars en route to Monaco – Stand QSE2
It’s been another big year for the NZ based company, there's lots of exciting things to talk about the Monaco Yacht Show It’s been another big year for the New Zealand based company, giving us lots of exciting things to talk about at the 2016 Monaco Yacht Show like our two big projects Adix and Aquijo. Adix, the three-masted 65-metre Dykstra schooner, has been transformed by a rig refit by Southern Spars and Future Fibres.
Posted on 22 Sep
Tony Parker - Basketball player and ambassador of the Bridge
Tony Parker, basketball player with an exemplary sporting career, took advantage of visiting France to launch 100 Club This important meeting took place last Saturday morning on 17th September in Nantes, between Tony Parker, godfather to the Bridge, and the companies which support this Franco American initiative, which will celebrate 100 years of fraternal exchanges between two countries. Tony Parker, the basketball player with an exemplary sporting career, took advantage of visiting France to launch the 100 Club
Posted on 22 Sep
Terry Kohler, driving force of North Technology dies at 82
Terry Kohler who purchased North Sails was the driving force behind the North Technology Group, has died aged 82 Terry Kohler who purchased North Sails from Lowell North over 30 years ago and was the driving force behind the North Technology Group, has died aged 82. With the combined company of North sails and Southern Spars, Kohler created the 'Engine above the Deck' concept which married the technology used to build the sails and spars to be designed and work as an integral unit.
Posted on 21 Sep
Terry Kohler, driving force of North Technology dies at 82
Terry Kohler who purchased North Sails was the driving force behind the North Technology Group, has died aged 82 Terry Kohler who purchased North Sails from Lowell North over 30 years ago and was the driving force behind the North Technology Group, has died aged 82. With the combined company of North sails and Southern Spars, Kohler created the 'Engine above the Deck' concept which married the technology used to build the sails and spars to be designed and work as an integral unit.
Posted on 21 Sep
'Grate Art' in Hong Kong
Hong Kong charity pioneers environmental awareness through innovative storm grate installations In an effort to help Hong Kongers play their part in protecting the world’s ocean, Ocean Recovery Alliance is raising awareness through a unique public art installation called ‘Grate Art’. Hong Kong’s drainage system is one of the main sources for debris outflow into the ocean, and Ocean Recovery Alliance is tackling this problem upstream through an initiative that uses “art for awareness”.
Posted on 14 Sep
The Newport International Boat Show is opening next week!
Newport Exhibition Group has secured a record number of exhibitors, and organized more educational activities Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today that it has secured a record number of exhibitors, and organized more educational activities and attractions for showgoers than ever before.
Posted on 9 Sep
Brookes and Gatehouse Videos with Knut Frostad
Navico, the parent company for Brookes and Gatehouse (B&G), Simrad and Lowrance have prepared some terrific videos Navico, the parent company for Brookes and Gatehouse (B&G), Simrad and Lowrance have prepared some terrific videos with Knut Frostad, the legendary Volvo Ocean Race sailor and former CEO. See him talk about sailing in general, the B&G product choices and placement he made for his own boat, and then why he loves his Outremer 5X.
Posted on 8 Sep