Althelia, with the support of Conservational International and with technical and scientific advice from the Environmental Defense Fund have partnered to launch the Sustainable Ocean Fund.
The Sustainable Ocean Fund is a pioneering impact investment vehicle that will invest into marine and coastal enterprises that can deliver marine conservation, improved livelihoods and attractive economic returns. The fund builds on recent analysis led by partner EDF demonstrating that profits in the global fishing sector could be grown by $51 billion USD (115%) a year compared to today, if fisheries were managed sustainably.
Collectively, the global ocean covers 70% of our planet, and over one billion people depend on fish for their primary source of protein, with more than 350 million jobs linked to the ocean through fishing, aquaculture, coastal and marine tourism. However, over-fishing, the changing climate and increased pollution, are exhausting this critical common global resource, with 90% of the world’s ocean fisheries categorised as over exploited or fully exploited and with cumulative losses from fisheries mismanagement estimated to be more than US$2.2 trillion over the last thirty years.
The Sustainable Ocean Fund will make investments into real assets and management improvements in coastal fisheries, sustainable aquaculture projects, the seafood supply chain and other select coastal projects, whilst applying best-in-class social and environmental governance. Target impacts include improved food and climate security, livelihoods and ecological biodiversity.
The Sustainable Ocean Fund is seeking to reach a first close during 2016. An initial portfolio of target investments has been identified in Latin America, Africa and Asia.
To find out more about how Althelia is working to align the ocean’s economy with its ecology, please contact us.