The World Bank has prepared an analysis of global fishing, based on a model that takes a holistic view of the world’s marine fisheries, in an updated version of its Sunken Billions Revisited report. The report shows significant inefficiency in current state activities, which often mean extreme over fishing in certain areas for a stagnant or declining number of fish. Reducing fishing and allowing for recovery of fish stocks would actually lead to the unlocking of enormous opportunity: $83B in 2012, according to the model. The report notes a variety of country-based approaches to reduce overfishing while balancing employment and economic concerns.
Commercial fishing serves as a good reminder of how sustainability concerns are not simply a PR effort, but can affect your core business and/or mission. As commercial fisheries find fewer fish, they run the risk of putting themselves out of business. Other industries and organizations as well can challenge themselves to take a step back and assess whether the “success” of their current model will undermine its position over time.