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Benefits of rebuilding global marine fisheries outweigh costs

Citation

Sumaila, UR and Cheung, W and Dyck, A and Gueye, K and Huang, L and Lam, V and Pauly, D and Srinivasan, T and Swartz, W and Watson, RA and Zeller, D, Benefits of rebuilding global marine fisheries outweigh costs, PLoS ONE, 7, (7) Article e40542. ISSN 1932-6203 (2012) [Refereed Article]


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Copyright Statement

Copyright 2012 Sumaila et al. Licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) https://creativecommons.org/licenses/by/4.0/

DOI: doi:10.1371/journal.pone.0040542

Abstract

Global marine fisheries are currently underperforming, largely due to overfishing. An analysis of global databases finds that resource rent net of subsidies from rebuilt world fisheries could increase from the current negative US$13 billion to positive US$54 billion per year, resulting in a net gain of US$600 to US$1,400 billion in present value over fifty years after rebuilding. To realize this gain, governments need to implement a rebuilding program at a cost of about US$203 (US$130-US$292) billion in present value. We estimate that it would take just 12 years after rebuilding begins for the benefits to surpass the cost. Even without accounting for the potential boost to recreational fisheries, and ignoring ancillary and non-market values that would likely increase, the potential benefits of rebuilding global fisheries far outweigh the costs. © 2012 Sumaila et al.

Item Details

Item Type:Refereed Article
Keywords:article; cost benefit analysis; environmental economics; environmental impact; environmental management; environmental planning; fishery management; government regulation; marine environment; resource management
Research Division:Agricultural and Veterinary Sciences
Research Group:Fisheries Sciences
Research Field:Aquatic Ecosystem Studies and Stock Assessment
Objective Division:Animal Production and Animal Primary Products
Objective Group:Fisheries - Wild Caught
Objective Field:Wild Caught Fin Fish (excl. Tuna)
Author:Watson, RA (Professor Reginald Watson)
ID Code:82827
Year Published:2012
Web of Science® Times Cited:33
Deposited By:Sustainable Marine Research Collaboration
Deposited On:2013-02-19
Last Modified:2017-09-21
Downloads:7 View Download Statistics

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