17 April 2015
Source: Greenpeace International
Recent changes to EU fishing and seafood legislation means that the financing of fishing operations reliant on overexploited stocks, or the use of destructive or unselective methods will prove a high risk to investors, Greenpeace warned today.
The newly published Greenpeace briefing "Risky Business - Why Smart Investors Must Avoid Unsustainable Seafood Operations" outlines how a culture of overfishing, combined with sweeping changes in the European Union's Common Fisheries Policy (CFP), the Common Market Regulation and the European Maritime and Fisheries Fund (EMFF) may radically affect both the profitability of fishing companies, and the seafood market in general.
"Thanks to the reformed EU Common Fisheries Policy regime, which encourages Europe's fishing community to shift towards environmentally sustainable methods and to embrace practices that bring positive social impacts, opportunities are narrowing for Europe's industrial fishing operators, for example Sapmer, Inpesca S.A and Albacora S.A., who have spent decades profiting from destructive fishing practices, weak fisheries policies, large subsidies and financial investment", said Greenpeace Common Fisheries Policy Coordinator Nina Thuellen.