Nef fisheries


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Nef fisheries

  1. 1. Economic benefitsof healthy
  2. 2. One key message“Restoring fish stocks is good forUK/EU economy”
  3. 3. Can the EU/UK meet fish demand from itsown waters?What would be the revenue/jobs gains ifEU stocks were at sustainable levels?How much would it cost to get there?
  4. 4. Fish DependenceCompares fish production vsconsumption.Estimates at when in the year calendara country starts depending on fish fromnon-EU waters.Fish production (supply): EU catch + AquacultureFish Consumption (demand): Total catch + Aquac. + Imports – ExportsSelf-sufficiency: Supply / Demand
  5. 5. Fish Dependence
  6. 6. Fish dependence has increased over time – stable over past 3 yearsAquaculture marginal impact to reduce increasing dependence on non-EU fishUK is a net importer – but could be a net exporter if fish stocks at MSY
  7. 7. What are the economic gains of fish stock restoration?(i.e. How much are we losing by keeping EU stocks overfished?)
  8. 8. Jobs lost at sea Our report compares current performance of 43 fish stocks with their potential if they were at MSY. 1) Catches 2) Revenues 3) Employment Note: there are 150 commercial fish stocks in EU
  9. 9. Where we are VS. where we could be Figure 3: The current value of catches from 54 fish stocks are shown relative to their sustainable maximum. Source: MSY estimates from Froese & Proelß and current value of catches are own calculations based on ICES stock assessments and the AER.
  10. 10. Potential additional catch (43 stocks) MSY landings 2010 landings Additional catch (tonnes) (tonnes) (tonnes) 9,756,519 6,230,564 3,525,955 Catches in 2010 were 64% of their potential 3.53 million tonnes is enough to meet the annual demand for fish for 155 million EU citizens
  11. 11. Additional revenue (43 stocks) MSY landings 2010 landings Additional value (million €) (million €) (million €) 7,137 3,949 3,188 €3.2 billion (£2.7bn) is more than five times annual fisheries subsidies paid to EU states
  12. 12. Employment potential Fishing Processing Total 31,802 68,988 100,79032,000 full-time fishing jobs, and 69,000 (full-and part-time) processing jobs every year.About 83,000 of these are in the EU27.
  13. 13. With every passing year that ourstocks remain overfished we arelosing out on 2.7 billion poundsand the potential to support100,000 jobs.
  14. 14. How can we halt this drain? and how much would it cost?
  15. 15. No Catch InvestmentProfitability of restoring fish stocksRecovery time for EU “overfished” fishstocksBenefits of doing so (i.e. Like JobsLost at Sea)Investment needed to compensatefishermen for “forgone” revenuesduring the moratoria period.
  16. 16. How long to MSY?Most stocks wouldbe rebuilt within 5years
  17. 17. No Catch InvestmentIn just 4 years: higher and + sustainable fish supply.€10-12 billion investment recovered in 4.6 years.From thereafter we would get positive returns on investment of50% after 10yrs up to 1400% after 40yrs.Investing £9.16 billion in restoring fish stocks would generate£4.43 billion profit by 2023Investment from private funds. Public funding targeted towardsdelivering MSY.
  18. 18. Source:
  19. 19. Final (unquestionable) pointsEU fish stocks are not delivering as much asthey could if they were at MSY.Keeping fish stocks below MSY levels issynonymous with loss of revenues and jobs.The quickest way to restore fish stocks (bMSY)is to stop fishing stocks which are below MSY
  20. 20. Within the current context:Fish stock restoration is the most important thingthat that the fishing sector can do to reducevulnerability and increase resilience to externalshocks.It is also the main (only) variable we can control.
  21. 21. THANK YOUReports available at: ww.neweconomics.orgEmail: