The Fish Site
31 January 2014
Bloomberg Philanthropies has launched the Vibrant Oceans initiative, a commitment of $53 million over five years to promote reforms to boost fish populations in Brazil, the Philippines and Chile.
Currently, over-fishing and destruction of important marine areas are threatening the global supply of fish. Reforming fishing practices in these countries will revitalise seven per cent of the world’s fisheries and will potentially serve as a model for future global reform efforts by providing insights into the best ways to protect the world’s fish supply.
The grant is also the largest philanthropic commitment to internationally reform fisheries management to date and is the first time that a private capital financing strategy will be integrated into such a reform effort.
“At Bloomberg Philanthropies, we look for opportunities to address unmet needs with proven solutions that improve the greatest number of lives. While billions of people depend on fish for food or income, only 13 per cent of the world’s fisheries are safe from being over-fished, presenting serious environmental and public health challenges,” said Michael R. Bloomberg, philanthropist and 108th Mayor of New York City.