![]() Through to 2030, the aim is to unlock at least $100m for the fund. This funding will help fisheries cover the upfront cost of FIP implementation. It is also being supported by purchasers of fish, including Sodexo and Mars Petcare, and some philanthropic bodies, such as the Walmart Foundation. The fund will include money from participating fish feed companies, such as Cargill and Skretting, which will commit to a volume-based fee on a long-term basis. In launching the new fund, WWF and Finance Earth are responding to the fact that fisheries may struggle to set up a FIP in the first instance – or to realise the financial benefits of implementing a FIP in the long-term. ![]() Partners have included Thai Union, Mars and Bolton Group. WWF has been collaborating within new FIPs since 2010. FIPs must track and publicly report progress every six months. Typically, FIPs involve local government, NGOs, scientists, fishery managers, fishers and companies upstream and downstream in the fishery’s value chain. Fisheries ultimately strive to gain certification from the Marine Stewardship Council (MSC). ![]() Called the Fisheries Improvement Fund, the fund will provide upfront funding to enable the creation of Fishery Improvement Projects (FIPS).įIPs are multi-stakeholder initiatives that see fisheries making changes including procuring more sustainable feed, ending overfishing, conserving and restoring biodiversity and reducing bycatch. The financing model was unveiled on Wednesday (26 April) by NGO WWF and impact investment advisory Finance Earth.
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