The world’s economy could be boosted by a cool $50 billion dollars through sustainably managed fisheries.
A new report from the Environmental Defense Fund and The Prince of Wales’s International Sustainability Unit (ISU) determined that the global economy could see an improvement of epic proportions.
How is that possible? Through sustainably managed fisheries across the world.
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The study attempts to spell out how fishermen and project developers can create fishery transition projects to raise awareness among investors who seek financial returns as well as social and environmental advancements.
Estimates say the world’s fishing industry already contributes $270 to the global GDP, and employs hundreds of millions of people. Another $160 billion is added through related industries, like ship building or fish processing.
But global demand for seafood, unsustainable practices and a lack of diversification is keeping the industry from earning and contributing even more. Sustainably managed fisheries is a goal that seems difficult, but not impossible to achieve.
A recent CNN article highlighted the connection of Prince Charles to the study, mentioning his hosting of a meeting last week that brought together key stakeholders to explore the appeal of a transition of conservation funding—from philanthropic and public money to smart and savvy business-minded investments.
“Success would provide a much-needed example of how to regenerate our planet’s dangerously depleted, threadbare and under-performing natural capital while also providing a realistic economic return,” Prince Charles said in the article.
On our side of the pond, the California Fisheries Fund represents an example of how the fishing industry can both improve the sustainability and profitability of their fishing businesses.
There’s no doubt the fishing industry could use a sustainable push, but highlighting the fact that it would help the environment and produce more money for the global economy is the ideal kind of way to promote sustainability.
What do you think could be improved in regards to the global fishing industry?