Wednesday Scribbles : Role of Entrepreneurship, Impact Investing and SDG’s in the Oceans

Notes from a changing world…
 
August, 23rd
“ What’s good for the fish is good for the fishing communities and for impact investors.”
–  David Bank
    CEO, Impact IQ
Ocean economy is the 7th largest economy of the world, valued at US$ 2.4 trillion. It directly employs more than 6 million people, and the global numbers are set to grow to 43 million by 2030.
Sustainable fishing practices, ocean protection norms and technology innovations represent the ground for blue-entrepreneurs to flourish.
An Indonesian start-up is tracking Indonesia’s catch of tuna into the block chain. By assigning a digital identity to each catch, it tracks the audit information that proves that fish were caught in a legal and sustainable manner.
On the environment protection side, this enterprise is farming coral on land with the hope of saving reefs in the ocean.
Important forces such as political will, the need to feed an increasing number of people and a demand shift in consumer’s preferences towards fisheries products are pivoting the fishery industry towards sustainability.
Ocean economy forms the core of the Sustainable Development Goal 14: Life below water. As for the other SDGs, it will only be achieved if the public sector, private sector and civil society step up and demonstrate real leadership.
To support sustainable fishing, impact investors are deploying capital for financing small scale fisheries, facilitate private-public partnership and long term investments.
The idea is simple: Better managed fisheries are more profitable than poorly managed ones. Money can be made by putting in place the management measures that allow fish stocks to rebound.
A balance between short term financial goals and long term sustainability goal will shape the future of the blue economy
Currently, almost 90 percent of the fisheries are over exploited. Converting these into sustainable fisheries is the real opportunity.
Source: FAO (2012). The State of World Fisheries and Aquaculture, 2012. FAO, Rome.
(Disclaimer: All information quoted here is linked to the respective source articles)
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