
The extent to which global demand for seafood is outpacing the sustainable yield of fisheries can be seen in shrinking fish stocks, declining catches and collapsing fisheries, according to the Earth Policy Institute.
Given these alarming trends, here are some need-to-know facts compiled by Earth Policy Institute showing the state of fisheries and people's growing reliance on farmed fish:
Alarming Data
More than 80 percent of the world’s fisheries are either considered fully exploited, with no room for safely increasing the catch, or they are already overfished and in need of rebuilding.
Small forage fish account for more than half the food supply in 36 countries, including the Maldives, the Philippines and Ghana.
"It’s not just the well-known predatory fish like the endangered bluefin tuna that need a break. Scientists recommend catch reductions of roughly 50 percent for many forage fish—small plankton-eaters such as sardines, anchovies, and herring that are staples for larger fish and other predators," said Earth Policy Institute Research Associate J. Matthew Roney.
Farmed Fish Production
Wild fish play a large role in the production of meat, milk, eggs and farmed fish. Some 6 million tons of fishmeal and 1 million tons of fish oil are produced each year. Nearly all of the fishmeal is fed to farmed fish, pigs and poultry, and 74 percent of fish oil goes to fish farms.
People will likely eat more fish from farms than from the wild in 2014, a historical milestone. As the world’s oceans are fished to their limits, any increase in world fish consumption will come from farms.
Fish farming output is expected to increase 33 percent by 2021.
In 2012, world farmed fish production topped beef production for the first time ever.
China accounts for 60 percent of world farmed fish production.
Scale Back and Rebuild
Some aquacultural producers are scaling back. Between 1995 and 2007, the fishmeal content in shrimp feed dropped from 28 percent to 18 percent. The drop was even more dramatic for salmon, from 45 percent to 24 percent.
Well-managed marine reserves, where fishing is off-limits, will help protect biodiversity and rebuild fish stocks.
"The modern fishing industry that evolved to meet our ever-growing demand for fish and shellfish has created a situation where most fish stocks are maxed out or worse," said Roney. "It appears that there is little prospect for increasing the wild catch much further."
In fact, because widespread overfishing is already undermining oceanic food webs as well as the economic and food security of millions of people, it is clear that sharp catch reductions are needed for many fisheries. Leaving more fish in the ocean now to grow and breed is an investment that pays big dividends in future fisheries productivity."
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theDOCK aims to innovate the Israeli maritime sector. Pexels
<p>The UN hopes that new investments in ocean science and technology will help turn the tide for the oceans. As such, this year kicked off the <a href="https://www.oceandecade.org/" target="_blank" rel="noopener noreferrer">United Nations Decade of Ocean Science for Sustainable Development (2021-2030)</a> to galvanize massive support for the blue economy.</p><p>According to the World Bank, the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem," <a href="https://www.sciencedirect.com/science/article/pii/S0160412019338255#b0245" target="_blank" rel="noopener noreferrer">Science Direct</a> reported. It represents this new sector for investments and innovations that work in tandem with the oceans rather than in exploitation of them.</p><p>As recently as Aug. 2020, <a href="https://www.reutersevents.com/sustainability/esg-investors-slow-make-waves-25tn-ocean-economy" target="_blank" rel="noopener noreferrer">Reuters</a> noted that ESG Investors, those looking to invest in opportunities that have a positive impact in environmental, social and governance (ESG) issues, have been interested in "blue finance" but slow to invest.</p><p>"It is a hugely under-invested economic opportunity that is crucial to the way we have to address living on one planet," Simon Dent, director of blue investments at Mirova Natural Capital, told Reuters.</p><p>Even with slow investment, the blue economy is still expected to expand at twice the rate of the mainstream economy by 2030, Reuters reported. It already contributes $2.5tn a year in economic output, the report noted.</p><p>Current, upward <a href="https://www.ecowatch.com/-innovation-blue-economy-2646147405.html" target="_self">shifts in blue economy investments are being driven by innovation</a>, a trend the UN hopes will continue globally for the benefit of all oceans and people.</p><p>In Israel, this push has successfully translated into investment in and innovation of global ports, shipping, logistics and offshore sectors. The "Startup Nation," as Israel is often called, has seen its maritime tech ecosystem grow "significantly" in recent years and expects that growth to "accelerate dramatically," <a href="https://itrade.gov.il/belgium-english/how-israel-is-becoming-a-port-of-call-for-maritime-innovation/" target="_blank" rel="noopener noreferrer">iTrade</a> reported.</p><p>Driving this wave of momentum has been rising Israeli venture capital hub <a href="https://www.thedockinnovation.com/" target="_blank" rel="noopener noreferrer">theDOCK</a>. Founded by Israeli Navy veterans in 2017, theDOCK works with early-stage companies in the maritime space to bring their solutions to market. The hub's pioneering efforts ignited Israel's maritime technology sector, and now, with their new fund, theDOCK is motivating these high-tech solutions to also address ESG criteria.</p><p>"While ESG has always been on theDOCK's agenda, this theme has become even more of a priority," Nir Gartzman, theDOCK's managing partner, told EcoWatch. "80 percent of the startups in our portfolio (for theDOCK's Navigator II fund) will have a primary or secondary contribution to environmental, social and governance (ESG) criteria."</p><p>In a company presentation, theDOCK called contribution to the ESG agenda a "hot discussion topic" for traditional players in the space and their boards, many of whom are looking to adopt new technologies with a positive impact on the planet. The focus is on reducing carbon emissions and protecting the environment, the presentation outlines. As such, theDOCK also explicitly screens candidate investments by ESG criteria as well.</p><p>Within the maritime space, environmental innovations could include measures like increased fuel and energy efficiency, better monitoring of potential pollution sources, improved waste and air emissions management and processing of marine debris/trash into reusable materials, theDOCK's presentation noted.</p>theDOCK team includes (left to right) Michal Hendel-Sufa, Head of Alliances, Noa Schuman, CMO, Nir Gartzman, Co-Founder & Managing Partner, and Hannan Carmeli, Co-Founder & Managing Partner. Dudu Koren
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