New program to strengthen fisheries, coastal communities

MANILA, Philippines - Bloomberg Philanthropies today announced its groundbreaking Vibrant Oceans Initiative, a five-year commitment of $53 million to reverse declining fish supplies and keep oceans thriving in the Philippines and two other countries.

Working with Rare, Oceana and EKO Asset Management Partners, the program is the largest philanthropic commitment to internationally reform fisheries management to date, the first to target both small-scale and industrial fishing management, andthe first to integrate a private capital strategy into a reform effort in the Philippines, Brazil and Chile.

Rare will lead the small-scale fishery portion of the initiative in the Philippines. Rare is an innovative conservation organization that looks for proven conservation solutions and trains local leaders to inspire communities to adopt them through its signature Pride campaigns.

“Overfishing is a ubiquitous problem, but the solution for local communities is relatively simple – empowering local fishers with exclusive access to their fisheries and building their capacity to manageprotected areaswithin that fishery where fish can reproduce unharmed and populate the surrounding area,” said Brett Jenks, President and Chief Executive Officer of Rare. “The result is more fish in the ocean and more fish for the community. This is strong incentive for fishers to become better stewards of their marine resources so people and nature thrive.”

In Rare’s first 12 Philippines projects, coastal fisheries vastly exceeded the original project goals by achieving a 47 percent average increase in fish abundance within fisheries replenishment zones in two years. Eighty-six local organizations applied to be part of Rare’s second set of near-shore fishing projects.

With Bloomberg Philanthropies’ investment, Rare will implement a targeted strategy in the Philippines to address overfishing by empowering near-shore fishing communities to sustainably manage their fisheries while increasing food security, improving livelihoods, conserving important marine habitats and creating coastal climate resilience.

Rare will engage local governments, organizations and coastal communities to implement management systems that are supported and led by local fishers.

The management systems will include exclusive fishing rights for coastal fishing in exchange for managingprotected areas where fish can reproduce unharmed. More information is available at www.rare.org.

According to Mayor Ruel Velarde of Tinambac, Camarines Sur, which partnered with Rare in 2010, “My top priority is addressing these three basic needs – health, education and food security. I want my people to be happy by having good health, good education and ability to produce food and earn a living ... and investing in fisheries management is always part of food security for my people.”

Globally, one billion people rely on fish as a major source of animal protein, with demand expected to increase by at least 20 percent by 2030 based on population growth and consumption patterns. Yet, the amount of fish caught in the oceans peaked in 1996 and has since been declining despite fishers exerting more effort and using improved technologies.

Reforming fishing practices is a proven strategy: it can revitalize the number of fish in the ocean by 50 percent, while at the same time increase fishers catch by up to 40 percent from current levels.

“The demand for food is projected to rise by at least 70 percent by the year 2050, but the supply of wild caught fish is declining,” said Andrew Sharpless, Chief Executive Officer of Oceana and author of The Perfect Protein. “With proper stewardship of our fisheries, the oceans can be a critical source of healthy food for the 9 billion people that will be on the Earth in the 21st century.” 

“More institutions and individuals are looking for ways their investments yield financial results while also addressing environmental problems,” said Adam Wolfensohn, board member of EKO Asset Management Partners. “There is rapidly growing interest in opportunities to invest in sustainable fisheries and innovative financial models that support the transition to sustainable fisheries.”

More information on the Vibrant Oceans Initiative is available at www.bloomberg.org.