Losses from poor fisheries management around the world results on foregone economic benefits of as much as $83 billion. Reversing those practices with sustainable use of ocean resources could generate hundred of billions for economic growth and improved livelihoods, particularly in developing countries.
One key to realizing the surplus: local community engagement in fisheries management and recovery.
“What we’re finding around the world is there are lots of interesting examples of cooperatives being formed around fisheries, where there are rights and interests being allocated to local communities,” said Michael Arbuckle, an independent director of FishServe Innovations, at the recent Sankalp Southeast Asia Summit in Jakarta.
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