University of Tasmania
Browse
82827.PDF (867.29 kB)

Benefits of rebuilding global marine fisheries outweigh costs

Download (867.29 kB)
journal contribution
posted on 2023-05-17, 16:06 authored by Sumaila, UR, Cheung, W, Dyck, A, Gueye, K, Huang, L, Lam, V, Pauly, D, Srinivasan, T, Swartz, W, Reginald WatsonReginald Watson, Zeller, D
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.

History

Publication title

PLoS ONE

Volume

7

Issue

7

Article number

e40542

Number

e40542

Pagination

1-12

ISSN

1932-6203

Department/School

Institute for Marine and Antarctic Studies

Publisher

Public Library of Science

Place of publication

United States of America

Rights 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/

Repository Status

  • Open

Socio-economic Objectives

Wild caught fin fish (excl. tuna)