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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, Veterinary and Food Sciences |
| Research Group: | Fisheries sciences |
| Research Field: | Aquaculture and fisheries stock assessment |
| Objective Division: | Animal Production and Animal Primary Products |
| Objective Group: | Fisheries - wild caught |
| Objective Field: | Wild caught fin fish (excl. tuna) |
| UTAS Author: | Watson, RA (Professor Reginald Watson) |
| ID Code: | 82827 |
| Year Published: | 2012 |
| Web of Science® Times Cited: | 103 |
| Deposited By: | Sustainable Marine Research Collaboration |
| Deposited On: | 2013-02-19 |
| Last Modified: | 2017-09-21 |
| Downloads: | 166 View Download Statistics |
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