Fisheries Improvement Fund

Leadership in the Blue Economy: Financing Fishery Recovery

Towards a Fisheries Improvement Fund

World Wildlife Fund (WWF), in collaboration with Finance Earth (FE), has been working to develop the concept for an innovative blue finance mechanism – the Fisheries Improvement Fund – with the aim of reversing the global trend of fisheries decline. Sustainable finance is critical to scaling the transition towards more sustainable fisheries; we need new models that are efficient, equitable, and cost effective for key stakeholders. We believe that testing and proving innovative concepts in the real world, such as this, are critical to the establishment of a sustainable blue economy.

Fisheries are an inherently renewable resource if we invest in their recovery and long-term management, which will support coastal jobs and livelihoods for several millions of people, contributing to a sustainable blue economy.

THE MODEL SEEKS TO

Provide a breakthrough financial solution for fishery improvements at scale
Raise capital to provide eligible FIP Implementers with upfront and ongoing finance to deliver FIP workplans
Create a long-term revenue stream for FIPs from companies sourcing from the fisheries through a volume-based fee mechanism
Deploy capital when and where it is needed to recover fisheries and document clear environmental and economic impact

HOW IT WORKS

The concept of this blue finance mechanism – the Fisheries Improvement Fund (FIF) – is to raise upfront funding to support the implementation of Fishery Improvement Projects (FIPs) by experienced partners on the ground and establish an equitable and scalable repayment mechanism based on a volume-based fee contributed by participating companies. This innovative approach is based on a clear and compelling business case for companies to invest in the long-term viability of their seafood supplies, thus reducing supply chain volatility and mitigating legal, shareholder, and supply chain risk while enhancing business value and protecting brand reputation. It allows for capital to be deployed at speed and scale to target fisheries in order to address the most critical ecological and social issues and to document clear environmental and economic impact.

THE VALUE PROPOSITION FOR BUSINESS

Stabilize fishery yields and reduce supply chain volatility

Reduce legal, shareholder, and supply chain risk while protecting brand reputation

Establish equitable, transparent, and efficientcost structures for funding fishery improvements

Be at the forefront of innovation

Why do we Need this Funding Model?

The lack of significant, long-term financing for fisheries improvement represents a barrier to scaling current efforts. It is not possible to increase the pace and scale of change without addressing how those changes are funded. This concept directly addresses this need by tackling the challenges associated with traditional funding for improving fisheries, including constant fundraising efforts that lead to piecemeal activities; lack of transparency, standardization, and efficiency in budgeting; high transaction costs; and minimal private sector participation. This model aims to mainstream sustainability into private sector business models and create a mechanism that provides a consistent source of funds for FIP implementation.

COLLABORATION AND DESIGN TO TEST THE FINANCING MODEL

World Wildlife Fund (WWF), is working with Finance Earth, experts in impact investment and fund management, through a multi-stakeholder initiative with leading industry players to design and pilot this financing concept aimed at delivering global fishery recovery at scale. This collaboration will focus on reversing the trend of fisheries decline and scaling global fisheries improvements for healthier marine ecosystems, thriving fishing communities, and a sustainable blue economy. Once established, this new mechanism will secure much-needed funding for implementing Fishery Improvement Projects (FIPs), attract new capital providers, and establish a return mechanism based on participating companies’ contributing toward a long-term, volume-based fee. Testing this model in the real world will provide a replicable and scalable model that can serve as a blueprint for a potential global Fisheries Improvement Fund in the future.

THE TEAM

World Wildlife Fund (US)

WWF has over a decade of experience working at the nexus of markets and fisheries to improve seafood sustainability. Since the outset, WWF has led the development of the global FIP approach to drive the improvement of large- and small-scale fisheries around the world and has worked with hundreds of fisheries to help improve their sustainability. 

Finance Earth

Finance Earth is the UK’s leading environmental impact investment boutique, providing financial advisory and fund management services across the natural and built environment both in the UK and internationally. Finance Earth helps to create projects – and the investment vehicles to fund them – that balance positive outcomes for nature, communities, and investors.

COMPANY PARTICIPANTS

Offtake Participants: Offtake companies are contributing a fee per metric ton (MT) into the Fund for the Pilot.

Buyer Participants: Buyer participants include longtime supporters of FIPs and established WWF partners. These companies are supporting the launch of the Fisheries Improvement Fund and Pilot.

Philanthropic Foundations: Philanthropy and patient capital providers are providing philanthropic support for the launch of the Fishery Improvement Fund.

Walmart Foundation

CALL FOR PROPOSALS

Finance Earth is seeking proposals for Fishery Improvement Projects (FIPs) worldwide that may be interested in seeking funding through the new Fisheries Improvement Fund (FIF).

FE is open to opportunities brought forward by any relevant stakeholder(s) including NGOs, local fishing groups, industry actors, off-take/trading companies, buyers/retailers and local/national governments. This fund can support both industrial and artisanal, small-scale fisheries.

Please visit https://finance.earth/fif/ to learn more and email fif@nullfinance.earth to arrange an initial discussion.

TO LEARN MORE OR SUBMIT A FIP

Email Fif@nullfinance.earth

Latest News

WWF and Finance Earth Launch a New Model for Financing Fisheries Improvement

Sustainable finance is critical to scaling the transition towards more sustainable fisheries. New sustainable, efficient, equitable, and cost-effective models are needed to lead the way towards the establishment of a sustainable blue economy. To respond to this need, World Wildlife Fund (WWF), in partnership with Finance Earth (FE) and through a multi-stakeholder collaboration, designed and launched a new financing mechanism aimed at fishery transition. Finance Earth, a leading impact investment advisory and fund manager with a track record in break-through social and environmental financing models, will establish and manage this new mechanism – the Fisheries Improvement Fund (FIF). The ambition is to catalyze more than $100 million in investment in fisheries improvement by 2030. This model, designed in collaboration with leading industry players, will unlock new pathways to fund global fisheries recovery at a scale that can match the size of the challenge.

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Peru Mahi Alliance Launches at SENA with Support from Major US Buyers

The Peru Mahi Alliance (PMA), a pre-competitive partnership of 13 Peruvian mahi mahi companies, will be launched officially on March 14th at the Seafood Expo North America (SENA) in Boston, with the presence of major U.S. buyer companies. PMA represents almost 80% of Peru’s mahi mahi exports to the US and is committed to advancing the Peru mahi mahi Fishery Improvement Project (FIP) through activity implementation, political advocacy efforts, and funding.