April 30, 2024 — Companies implicated in illegal, unreported and unregulated (IUU) fishing can have a serious impact on the economies, job opportunities and overall welfare of the developing countries in whose waters they operate, according to a recent report from London-based global affairs think tank the ODI.
The report, released Feb. 16, used consolidated fisheries and satellite data to gauge the economic damage done by fishing fleets with shady track records in five vulnerable countries: Ecuador, Ghana, Peru, the Philippines, and Senegal. It found that these companies’ fishing activities could be costing the five countries 0.26% of their combined GDP, leaving 30,174 people jobless and pushing 142,192 individuals deeper into poverty than they otherwise would be.
“In this report, we wanted to make a business case for sustainable fishing to show that it is in developing countries’ economic interests to have robust sustainable fishing policies,” Miren Gutierrez, study author and a professor of communication at the University of Deusto in Spain, told Mongabay. “This is crucial because the health of the oceans and the sustainability of fish stocks are directly linked to the activities of real companies and the people behind them.”