Featured Research

from universities, journals, and other organizations

How to make global fisheries worth five times more

Date:
July 13, 2012
Source:
University of British Columbia
Summary:
Rebuilding global fisheries would make them five times more valuable while improving ecology, according to a new study.

UBC fisheries economist Rashid Sumaila says global fisheries could be worth five times as much if steps were taken to rebuild them.
Credit: Photo by Martin Dee, UBC

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.

By reducing the size of the global fishing fleet, eliminating harmful government subsidies, and putting in place effective management systems, global fisheries would be worth US$54 billion each year, rather than losing US$13 billion per year.

"Global fisheries are not living up to their economic potential in part because governments keep them afloat by subsidizing unprofitable large scale fishing fleets with taxpayer money," says study lead author Rashid Sumaila, a fisheries economist and director of the UBC Fisheries Centre. "This is like sinking money into a series of small, cosmetic fixes in an old home rather than investing in a complete, well thought-out renovation that boosts the home's value."

Despite the US$130- to US$292-billion price tag for transitioning global fisheries, the study's authors estimate that in just 12 years, the returns would begin to outweigh the costs and the total gains over 50 years would return the investment three- to seven-fold.

"We should be getting more from our fisheries, rather than less," says Sumaila. "If the environmental and sustainability reasons alone can't convince global governments to take action, the financial incentives should."

"This study shows that politicians can no longer use the excuse that rebuilding fisheries is too expensive," says Daniel Pauly, principal investigator of UBC's Sea Around Us Project and a study co-author. "Not only is rebuilding better for the economy, it's better for ecology."

In addition to eliminating harmful subsidies, new policies would need to address poor regulation, particularly on the high seas, and illegal fishing.


Story Source:

The above story is based on materials provided by University of British Columbia. Note: Materials may be edited for content and length.


Journal Reference:

  1. Sumaila UR, Cheung W, Dyck A, Gueye K, Huang L, et al. Benefits of Rebuilding Global Marine Fisheries Outweigh Costs. PLoS ONE, 2012 DOI: 10.1371/journal.pone.0040542

Cite This Page:

University of British Columbia. "How to make global fisheries worth five times more." ScienceDaily. ScienceDaily, 13 July 2012. <www.sciencedaily.com/releases/2012/07/120713223937.htm>.
University of British Columbia. (2012, July 13). How to make global fisheries worth five times more. ScienceDaily. Retrieved August 1, 2014 from www.sciencedaily.com/releases/2012/07/120713223937.htm
University of British Columbia. "How to make global fisheries worth five times more." ScienceDaily. www.sciencedaily.com/releases/2012/07/120713223937.htm (accessed August 1, 2014).

Share This




More Earth & Climate News

Friday, August 1, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Pyrenees Orphan Bear Cub Gets Brand New Home

Pyrenees Orphan Bear Cub Gets Brand New Home

AFP (Aug. 1, 2014) The discovery of a bear cub in the Pyrenees mountains made headlines in April 2014. Despire several attempts to find the animal's mother, the cub remained alone. Now, the Pyrenees Conservation Foundation has constructed an enclosure. Duration: 00:31 Video provided by AFP
Powered by NewsLook.com
Rare Whale Fossil Pulled from Calif. Backyard

Rare Whale Fossil Pulled from Calif. Backyard

AP (Aug. 1, 2014) A rare whale fossil has been pulled from a Southern California backyard. The 16- to 17-million-year-old baleen whale fossil is one of about 20 baleen whale fossils known to exist. (Aug. 1) Video provided by AP
Powered by NewsLook.com
Greenpeace Ship Arctic Sunrise Free to Leave Russia

Greenpeace Ship Arctic Sunrise Free to Leave Russia

AFP (Aug. 1, 2014) Greenpeace's ship Arctic Sunrise, held in custody by the Russian authorities since September last year, has departed the Russian city of Murmansk en route for its home port of Amsterdam. Duration: 01:04 Video provided by AFP
Powered by NewsLook.com
Visitors Feel Part of the Pack at Wolf Preserve

Visitors Feel Part of the Pack at Wolf Preserve

AP (July 31, 2014) Seacrest Wolf Preserve on the northern Florida panhandle allows more than 10,000 visitors each year to get up close and personal with Arctic and British Columbian Wolves. (July 31) Video provided by AP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins