Selected tags: fisheries financing

CFF Advances Sustainability Vision of Local Morro Bay Community

[Hear more about CFF from fishermen]

Yesterday, the New York Times featured a story about the new Morro Bay Community Quota Fund. With the help of a loan from EDF’s California Fisheries Fund (CFF), the Quota Fund was able to acquire fishing quota and five fishing permits from The Nature Conservancy (TNC), which the Quota Fund will lease to local fishermen to support a sustainable local fishing industry. Here at CFF we are excited to be involved in California’s first community purchase of fishing quota, contributing to the groundfish fishery’s continued environmental stewardship.

Several years ago, TNC bought these fishing permits and boats from fishermen who were interested in leaving the trawling business. TNC then leased trawl permits to fishermen who agreed to use non-trawl or low-impact trawl gear to catch the same fish with less habitat impact. This effort combined with EDF’s role in helping to get catch shares implemented for the rest of the West Coast groundfish trawl fleet has aided the fishery in bouncing back. In fact, the fishery was recently certified as sustainable and recognized by the Marine Stewardship Council as “the most diverse, complex fishery ever to enter assessment against MSC standard anywhere in the world.”

Andrea Lueker, Executive Director at the Morro Bay Community Quota Fund shared her thoughts about the transaction:

“We look forward to helping local fishermen continue their sustainable fishing businesses and we especially aim to help young local fishermen get started. We appreciate everything that the California Fisheries Fund and The Nature Conservancy have done to help us launch the Quota Fund.”

The mission of the CFF has always been to support fishermen’s goals of being stewards of the resource as they transition to or continue sustainable fishing practices. Many other organizations and individuals have reached out to us for help in achieving similar goals. In response to these requests, we’ve outlined the journey of the CFF through a video series and brief paper. In sharing our story, we hope to continue a rich dialogue about sustainable fishery management and investing in fishery conservation.

Learn more about Morro Bay’s fishing story: http://www.nytimes.com/2014/07/07/us/creating-a-safe-harbor-for-a-village-heritage.html?_r=0

 

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New Video Series: California Fisheries Fund Helps Finance Sustainable Fishing

When we launched the California Fisheries Fund in 2008, it was unique and untested: a public-private partnership with the mission to make capital available to a growing sustainable commercial fishing industry.  Since then, we’ve provided more than $2.5 million in loans to fishermen, fish buyers, processors and distributors enabling them to transition to or continue more sustainable fishing business practices. Many people and institutions have reached out to ask questions about our experience and story. Some organizations are considering establishing similar funds and they’ve asked for advice on how to get started.

In response to those and a growing number of requests, we’ve developed several resources that describe our experience establishing and managing the CFF:

A brief paper on the CFF,Investing in sustainable fishing” that highlights its history, challenges and successes

A three-part CFF video series:

  1. California Fisheries Fund: Investing in Sustainable Fishing: CFF borrowers share their stories about how they used loans to improve the sustainability and profitability of their fishing businesses.
  2. Reflecting on Our Growth: Vision to Implementation: Founders of the CFF discuss how the fund started, how it reduced risk and highlighted the opportunities for growth in the fisheries finance world.
  3.  Looking Ahead: The West Coast fishing industry has seen great benefits as a result of its transformational fishery management approaches and the California Fisheries Fund's support of sustainable fishing practices. Continued research, innovation, funding and faith in the fishing industry will help fishermen, fishing organizations and the industry as a whole succeed.

As the interest in financing fisheries continues to bud and its dialogue becomes richer, we will continue to share our story in hopes of inspiring others to invest in fishery conservation.

 

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