PR Newswire
11 Apr 2023, 06:34 GMT+10
US$100 million ocean fund to end overfishing
SYDNEY, April 11, 2023 /PRNewswire/ -- The Marine Stewardship Council (MSC), an international non-profit on a mission to end overfishing by setting standards for sustainable fishing and supply chain assurance, has today announced an ambitious goal to mobilise US$100 million (AUD$150 million) to help safeguard the ocean and sustainable seafood supplies over the next decade.
The announcement marks a significant expansion of the MSC's Ocean Stewardship Fund which aims to end overfishing.
Since 2018, the MSC has committed to allocate 5% of the income it generates from licensing the use of the MSC blue fish tick label on sales of MSC certified sustainable seafood to the Ocean Stewardship Fund.
Philanthropic organisations, businesses and governments are encouraged to contribute to the fund, which has already delivered more than 100 grants, including almost 40 in emerging economies. These funds assist a wide range of fisheries and invest in research and innovation to improve fishing practices on the water.
Sales of MSC certified sustainable seafood to contribute to US$100 million ocean fund to end overfishing
Ocean Stewardship Fund research by Maria Teresa Tavera Ortiz of Autonomous University of Baja California
Beneficiaries have included Indonesian fishers adapting to the impacts of climate change on blue swimming crabs, South African fisheries reducing bird bycatch, and artisanal fishers in the Mediterranean trialling new technology to protect stingrays. A new project to assess the risks of climate change for wild-capture fisheries and help them to adapt in the future has also received funding.
The challenge facing the ocean is enormous. Consumption of seafood is rising rapidly whilst over a third of global fish stocks are being exploited at unsustainable levels. The pressures of feeding a burgeoning global population, combined with the detrimental effects of climate change demands stronger, urgent action.
Rupert Howes, Chief Executive of the Marine Stewardship Council, said: "The Ocean Stewardship Fund has supported an impressive range of projects, including many innovative collaborations between fisheries and scientists. We are extremely grateful to our funders, partners and supporters who share our vision of a healthy thriving ocean. By mobilising US$100 million over ten years, we can support many more communities and businesses around the world which are reliant on the ocean for food, security, and livelihoods."
Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationDHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
Phnom Penh [Cambodia], July 12 (ANI): Union Minister of State for External Affairs Pabitra Margherita reaffirmed the 'strong and enduring...
The arbitration has in fact become an anchor around the Filipino people's neck, weighing the nation down economically, said Herman...
New Delhi [India], July 12 (ANI): Prime Minister Narendra Modi on Saturday stated that every India is elated with this recognition...
New Delhi [India], July 12 (ANI): The Ministry of External Affairs (MEA) has underlined India's increasing involvement in the Indo-Pacific...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...