World Wildlife Fund (WWF) and Finance Earth (FE), alongside leading industry partners, announced the launch of a new concept to finance the transition to more sustainable fisheries worldwide.
This innovative financing model focuses on reversing the trend of fisheries decline and scaling global fisheries improvements toward nature-positive outcomes for healthier marine ecosystems, thriving fishing communities, and a sustainable blue economy. 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.
“Through this blue finance mechanism, sustainable financing will be ensured for projects that are critical to scaling fishery reform over the coming decade for people and nature, through an efficient, equitable, and cost-effective model. Our vision is that this Fund, under the management of Finance Earth, revolutionizes fisheries finance, driving game-changing environmental and social impact,” said Johan Bergenas, Senior Vice President of Oceans at WWF US.
WWF and FE worked with industry to conceptualize and design a model that is impactful, scalable across fisheries, and supported by companies working to transition fisheries in their supply chains to more sustainable resources.