How $50 Billion Can be Found in Fishing if the World Does it Better

How $50 Billion Can be Found in Fishing if the World Does it Better

CNN – Oceans around the globe could inject an extra $50 billion into the world’s economy — if fisheries were sustainably managed, a new report backed by Prince Charles shows.

Prince Charles, a keen environmentalist, hosted a meeting in London Thursday bringing together representatives of the fishing industry, governments, campaigning groups and investors. The aim was to transform the way the conservation efforts are funded — from philanthropic and public sources of money, to business investment.

“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.

Fisheries contribute more than $270 billion to global GDP and employ hundreds of millions of people around the world, according to the report from the Prince of Wales charity. An additional $160 billion comes from related businesses, such as ship building or fish processing industries.

But environmentalists argue the world’s oceans are being exploited, and that will eventually cost the industry billions. The report points to the Canadian Grand Banks cod fisheries, where unsustainable fishing led to its collapse, as an example of the impact.

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