Phoebe Higgins

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Phoebe Higgins

  1. 1. California Fisheries FundPartnering with Private and Institutional InvestorsFood, Farms, Fish and FinanceToronto | May 25, 2013
  2. 2. AgendaDefining the ProblemInvestment StrategyCFF: A Case StudyNew Opportunities
  3. 3. Fisheries Landscape• $100 billion global industry• USA: $5.3 billion, 186k jobs• Canada: $1.9 billion, 52k jobs• Pacific region: $710 million,17k jobsSources: World Bank, FAO, NOAA
  4. 4. Overview
  5. 5. EnvironmentalConservationStrong PortCommunitiesProfitableFishingObjectives
  6. 6. Owen Hackleman• Young, new entrantfisherman• Trap gear fortargeting black codLoan Portfolio
  7. 7. Bettencourt & Son• CFF loan for trapfishing gear• Taking advantage ofnew gear regulationsLoan Portfolio
  8. 8. Wild Planet• Partnership withcommercial bank• Build newinfrastructureLoan Portfolio
  9. 9. CFF StructureAdvisoryCommittee• Maintain conservation vision• Evaluate mission alignment of dealsCreditCommittee• Evaluate borrower creditworthiness• Ensure compliance with loan policyGoverningBoard• Guide CFF vision• Review + approve all loans
  10. 10. CFF Structure$3.8 M available$1.7 M in portfolio11 borrowers 14 loans
  11. 11. Investors• Create jobs, Increase tax receipts, Coastal conservationState of California• Grant to marine fund, Ultimately invest through PRI loanFoundation 1• Grant to “do good,” Promote long-term change modelFoundation 2• Complement funder’s program objectives, Quick successFoundation 3
  12. 12. • Capital alone is not enough• Regulatory process = really important• Small target market• High cost of operationsLessons Learned
  13. 13. New Opportunities• Tracking/traceability• Better data collection• Gear innovation avoid bycatch andhabitat damage• Improve infrastructure maintainquality/freshness and good prices• Large seafood buyers should be interestedin preserving sustainable supply chain
  14. 14. California Fisheries FundPhoebe Higgins, Directorphiggins@edf.orgwww.californiafisheriesfund.org

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