Benefits of rebuilding global marine fisheries outweigh costs
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, DGlobal 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 ONEVolume
7Issue
7Article number
e40542Number
e40542Pagination
1-12ISSN
1932-6203Department/School
Institute for Marine and Antarctic StudiesPublisher
Public Library of SciencePlace of publication
United States of AmericaRights 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)Usage metrics
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