The Marine Stewardship Council (MSC) has set an “ambitious” goal of an USD 100 million (EUR 91 million) expansion of its Ocean Stewardship Fund.
The fund, the MSC said, has a main goal of ending overfishing, and will help “safeguard the ocean” along with supplies of sustainable seafood. The organization is encouraging philanthropic organizations, businesses, and governments to contribute to the fund to assist a range of fisheries research and innovation.
The USD 100 million goal represents a significant increase from its original goal of USD 10 million (EUR 9.1 million). According to the MSC, the fund has already delivered more than 100 grants, including 40 grants to emerging economies.
“In the five years since its creation, the Ocean Stewardship Fund has supported an impressive range of projects, including many innovative collaborations between fisheries and scientists,” MSC Chief Executive Rupert Howes said.
Some of the program’s efforts so far include helping Indonesian fishers that are adapting to climate change, assisting South African fisheries that sought to reduce bird bycatch, and helping artisanal fishers in the Mediterranean with trialling new technology to protect stingrays.
The MSC has also granted funds to improve the management of fisheries through efficient data collection, along with improving the safety of at-sea fishery observers.
MSC said it has already received donations from the MAVA Foundation and Hans Wilsford Foundation, as well as the Walton Family Foundation for a loan guarantee facility. The organization said expanding the fund will help it assist more fisheries, especially small-scale producers and those in emerging economies.
“We are extremely grateful to our funders, partners and supporters who share our vision of a healthy thriving ocean. If we want to enjoy seafood today and into the future, we need to respond to the scale of the challenges facing the ocean,” Howes said. “By mobilizing [USD] 100 million over 10 years, we can support many more communities and businesses around the world which are reliant on the ocean for food security and livelihoods.”
Photo courtesy of Marine Stewardship Council
