Selected tags: sustainable 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.” Read More »

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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: Read More »

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