FishTracker

Shareholders in fishing companies at risk from fisheries over-exploitation: Research

FishTracker

 

Shareholders in the world’s major publically-listed fishing companies are exposed to risk from overfished fish stocks, with many of these stocks underperforming or at risk of collapse, a new study reveals.

The report, produced by the Fish Tracker Initiative in collaboration with the Sea Around Us, states that 32 per cent of the 97 stocks targeted by fishing giants such as South Korea’s Dongwon Industries and Silla Co., Norway’s Austevoll Seafood, and Canada’s Clearwater Seafoods are overfished.

“This is an important finding because it matches the global average. Globally, at least 31 per cent of fish stocks are overfished and we would have thought that large publicly listed fishing companies like the largest 19 identified here, whose combined annual revenues exceed $4 billion, as well as institutional investors would not be exposed to this, but they are,” says Tim Cashion, a scientist with the Sea Around Us who led the fisheries research in the report.

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Nature discards 2

Nature features the Sea Around Us’ discards paper

Nature published, both in its print and online editions, a brief feature on the Sea Around Us’ paper “Global marine fisheries discards: a synthesis of reconstructed data,” which appeared in Fish & Fisheries last June.

According to the research, conducted by Dirk Zeller, Tim Cashion, Deng Palomares and Daniel Pauly, industrial fishing fleets have been dumping nearly 10 million tonnes of good fish back into the ocean every year for the past 10 years.

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The plan to ban fishing in more than half the world’s oceans

Fishes eye view of the Island Star. Photo by Derek Keats, Flickr.

Fishes eye view of the Island Star. Photo by Derek Keats, Flickr.

This analysis was originally posted in New Scientist, and can be found here.

By James Randerson.

IT IS one of the planet’s last true wildernesses, yet a handful of the world’s wealthiest nations are plundering its riches to satisfy the appetites of luxury consumers – all with the help of billions in public money. Continue reading

EU fishing companies reap profits in developing countries, while taxpayers foot the bill

Infographic from The Pew Charitable Trusts, who also funded the research.

Infographic from The Pew Charitable Trusts, who also funded the research.

The European Union (EU) covers 75% of the access fees that allow its vessels to fish in developing countries’ waters while the fishing companies pocket the profits, according to new research from the Sea Around Us Project.

In a study published today in the online journal PLOS ONE, the authors analyzed access agreements that allow EU-based fishing fleets to operate in Africa and the South Pacific. They found that EU governments pay 75% of the annual access fees while the fishing industry pays the remaining 25% — but that represents only about 2% of the revenue it generates from selling the catch.

“The EU’s fishing companies are benefitting from these agreements far more than the developing countries where they go to fish,” says Frédéric Le Manach, a PhD student at with the Sea Around Us Project and the study’s lead author.

You can find out more about the study here:
Press release from the University of British Columbia,
Journal article published in PLOS ONE.

Le Manach F, Chaboud C, Copeland D, Cury P, Gascuel D, Kleisner KM, Standing A, Sumaila UR, Zeller D and Pauly D (2013) European Union’s public fishing access agreements in developing countries. PLOS ONE. http://dx.plos.org/10.1371/journal.pone.0079899