The World Bank and World Wildlife Foundation (WWF) claim the aquaculture sector is primed for massive growth over the next 25 years, but the level of investment in the industry will determine just how much it will grow.
“To realize aquaculture’s full potential, we must shift toward practices that are not only productive, but also environmentally responsible, socially inclusive, and economically viable,” World Bank acting Global Director of the Department of Environment Genevieve Connors said in a release. “This is a call to action – to deepen collaboration, to invest boldly in new aquaculture technologies, and to foster stronger alignment between public and private sectors.”
According to a report coauthored by the World Bank and the WWF titled “Harnessing the Waters: A Trillion Dollar Investment Opportunity in Sustainable Aquaculture,” the current investment rate of around USD 500 billion (EUR 427 billion) per year will result in a growth rate of 1.9 percent, generating 159 million metric tons of production (excluding seaweeds) and providing 8 to 14 million new jobs by 2050.
Slightly more aggressive investments in the sector, however, could yield significantly higher productivity, profit, and employment opportunities.
A USD 1.5 trillion investment (EUR 1.3 trillion) in the sector over the next quarter century, the authors said, could increase aquaculture production to 225 million metric tons by 2050, almost 100 million metric tons higher than the current rates are likely to produce, and create between 13 and 22 million new jobs...
