How can we help to reduce overfishing in coastal fisheries?
The World Bank-led Coastal Fisheries Initiative-Challenge Fund (CFI-CF) has launched the Global Knowledge Competition (GKC). Spanning four countries, this competition aims to mobilize the collective power of fishing communities, businesses, investors, governments, and other seafood stakeholders to design and implement innovative mechanisms and methods that promote the sustainable use and management of coastal fish stocks.
Overfishing is among the biggest challenges threatening the health of our oceans, the food security and livelihoods of millions living in coastal communities, and the business opportunities of seafood and related industries around the world.
Each year, global marine fisheries lose out on US$83 billion in economic benefits due to overfishing (World Bank “The Sunken Billions Revisited”), a sum that could instead be productively reinvested in people, communities, and economies. Limited coordination among fisheries and seafood stakeholders has blocked the development of viable solutions to overfishing, resulting in the continued loss of natural resources and economic benefits.
The CFI-CF Global Knowledge Competition invites coalitions or individual organizations to develop innovative solutions to reduce overfishing through increased coordination among fishers and collaboration across the seafood industry and value chain actors.
The competition is highlighting coastal fisheries in four countries—Cabo Verde, Ecuador, Indonesia, and Peru—as well as solutions that can impact coastal fisheries globally.
The competition seeks solutions that: