By SeafoodSource staff
Published on 17 December, 2013
National Fisheries Institute’s (NFI) Crab Council has announced it is teaming up with the global collaborative 50in10 to work on a study that looks at the economic impact of sustainability initiatives.
“We believe that focusing sustainability initiatives on communities, as opposed to simply species, has the potential to have a larger and more sustained impact both for oceans and the people and businesses that depend on them,” said Miguel Jorge, 50in10 managing director. “The NFI Crab Council’s industry-led efforts in places like Indonesia, Vietnam and the Philippines are good test cases for just how much of a return on investment this type of focus can have.”
50in10 is a worldwide collaboration among NGOs, businesses, funders and governments to restore fisheries. It has a 10-year goal of bringing 50 percent of the world’s fisheries under sustainable management, while increasing economic benefits by USD 20 billion annually.
“The type of economic analysis 50in10 plans is really ground breaking,” said Ed Rhodes, NFI Crab Council executive director. “Developing a model that can quantify a group or company’s investment in sustainability not only helps to benchmark progress in the fishery, it also potentially serves to encourage other fisheries to focus and invest in sustainability.”
50in10 will work with the Crab Council on assessing economic impact initially in Indonesia where it funds sustainability work headed by the Association of Indonesian Blue Swimming Crab Processors (APRI.)
“Our hope is that 50in10’s work with our Indonesian partner will generate a template that is applicable to assessing all of our projects and beyond that other species and fisheries,” said Brendan Sweeny, Crab Council interim chair.