Who pays for sustainability in the small-scale fisheries in the global south?

I. López-Ercilla, L. Rocha-Tejeda, S. Fulton, M.J. Espinosa-Romero, J. Torre and F.J. Fernández Rivera-Melo

Ecological Economics, 2024, vol. 226, issue C

Abstract: Marine conservation and sustainable fisheries require diversified funding sources to align with Sustainable Development Goals. This study examined seven Fisheries Improvement Projects (FIPs) and seven community marine reserves in Mexico, spanning 60 months. FIPs averaged $60,296 USD annually, with variations based on FIP type and accessibility. Marine reserves required $2343.16 USD per square kilometer over 17 months, varying based on size and location. Private funding covered 91.5 % of costs, primarily from philanthropic donations (69.5 %) and fishing organizations (21 %), with a minor contribution from markets (1 %, only in FIPs). Public funding constituted 8.5 %, split between academia (4.5 %, only in reserves) and governmental sources (4 %). Despite efforts to engage other stakeholders, philanthropy remained the dominant funding source, most FIPs couldn't access a price premium and markets didn't support marine reserves. Community reserves heavily relied on philanthropy, raising concerns about long-term sustainability. Incorporating in-kind contributions, mainly from fishing organizations and communities, is crucial, particularly in small-scale fisheries in the Global South. Strengthening community agreements and public-private coordination is essential to attract new investments for small-scale fisheries' sustainability, addressing institutional challenges in the Global South.

Keywords: Financial sustainability; Latin America and Caribbean; Fishery improvement projects; Marine reserves; Implementing costs; Non-financial contributions (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:226:y:2024:i:c:s0921800924002477

DOI: 10.1016/j.ecolecon.2024.108350

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