Title Overfishing poses risks for investors
Source Other
Date 2018-03-09 PM 4:53:03 Hit 167
The world’s oceans provide an important source of protein and other nutrients for many coastal countries, and a livelihood for those who live there. They also generate income for those who invest in the global fishing companies that harvest the seafood.
But a group of researchers who studied the practices of many of the world’s largest fishing companies believes that fish stocks may be threatened by overfishing, depleting fish stocks and bringing them to the brink of ruin.
Also, they said, many fishing companies hide their behavior from shareholders, putting their investments at risk. Their findings are described in a recent report released by the Fish Tracker Initiative in partnership with the Sea Around Us, a project of the University of British Columbia.
“Continued short term exploitation of fish stocks is leading to a long term reduction and eventual collapse of these stocks, on which we depend for nutrition and, in the case of investors, financial return,” said Ben Metz, who led the “Fish Tracker” project. “All companies should be moving towards increased transparency and improved sustainability practices, regardless of location, country of origin or existing levels of transparency and sustainability.”
Ocean health has become the focus of increasing concerns in recent years, as the effects of climate change continue to disrupt delicate marine ecosystems. Global warming is raising water temperatures. Oceans are also absorbing more atmospheric carbon dioxide, causing them to become more acidic. Marine advocates, therefore, insist protecting ocean life must become a higher priority within global plans to mitigate global warming.
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