Financial Sustainability for Marine Preservation and Sustainable Fishery
KELP FOREST OF BAJA CALIFORNIA
Capacity-building of Leaders and Fishing Organizations
OBJECTIVE: To implement financial and market strategies to cover the costs of marine conservation and sustainable fishery projects, in order to ensure long-term viability.
Usually, marine conservation and sustainable fishery projects are funded by philanthropic entities, like foundations. Even when their support has been crucial to starting and developing successful projects, this kind of financial dependency also makes these projects vulnerable, thus limiting their replicability. On the other hand, the market does not recognize marine conservation efforts or good fishery management.
COBI works with fishing communities, financial intermediaries and market players to develop financial and market strategies for funding sustainable initiatives. To achieve this, we work to make the supply chain of the sea product more transparent, and to develop community funds.
Since 2016, COBI has worked with fishing cooperatives, final purchasers (like restaurants, supermarkets and hotels) and sea products purchasers to reduce barriers to entering the market. This group is working on the creation of mutual trust, transparency in supply chain costs, quality control of the product, and the consolidation of volumes.
At the same time, COBI is designing and implementing community funds with a rate of return that allows them to cover expenses incurred by marine conservation and sustainable fishing projects. In 2017, pilot funds were launched in the Baja California and Quintana Roo Cooperatives with the purpose of covering yearly monitoring expenses in their marine recovery areas, and paying for monitoring of their sustainable fisheries. Those funds include a sub-fund for emergencies, in case of environmental events or disasters that could bring fishing to a halt for a season.
- 13,294,961 and 16,353,580 MXN are the estimated costs of the first 5 years of the establishment of a new marine reserve
- 7 cooperatives designing their own marine conservation and sustainable fishery fund
- 472,000 MXN in loans devoted to financing productive improvements of 2 fishing cooperatives
- El Buen Socio
- Restaurante Campo Baja
- Grupo Contramar
This project is constantly evolving, and your support is key to making an impact on marine conservation and sustainable fishery. The following list details our current project needs. You can also donate directly to COBI by contacting our donations team: email@example.com. Let’s all do our part!
- Purchasers interested in buying sea products from sustainable fisheries and/or coastal communities with marine conservation projects
- Impact investors and financial intermediaries interested in investing in community sustainable fishery and marine conservation projects
- Media interested in highlighting the financial sustainability project for marine conservation and sustainable fishery.
- Donations and funding for the financial sustainability project for marine conservation and sustainable fishery
- Volunteers with relevant knowledge, skills, or experience
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