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The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy. The ocean supports many livelihoods, but this is currently not sustainable with pressures on the climate and ecosystems. Here, in this perspective, the authors outline the barriers and solutions for financing a sustainable ocean economy. [ABSTRACT FROM AUTHOR]

The East China Sea (ECS) Large Marine Ecosystem (LME) is a globally significant fishing ground, but the absence of cooperative regional management impedes the future sustainability of ECS fisheries. To navigate around nationally focused perspectives, we provide an up to date synthesis about the socio-economic importance and status of ECS fisheries at the ecosystem level, which is currently lacking in the literature. Our review indicates that ECS LME fisheries contribute around 6 million t in catch and USD 13 billion in landed value annually, and employ up to an estimated 1.4 million, the majority of who are small-scale fishers. However, the fisheries benefits are threatened by intense fishing pressure and rapid economic development which exacerbates the effects of overfishing. The future of ECS fisheries also faces climate uncertainties, which has already been associated with shifts in species distribution and spatial distribution of fishing effort. At the LME level, political disputes that inhibit crucial multilateral fisheries management threaten the future sustainability of ECS fish stocks, and also weaken the effects of national management measures which have largely failed to address fisheries overcapacity and coastal marine degradation. Continuing on a path focussed on national interests without considering LME wide dynamics risks jeopardising the significant fisheries socio-economic and ecological benefits that accrue to all LME countries. Thus, our review emphasises the urgency for multilateral ECS fisheries management to enhance ecosystem resilience so that fisheries resources can continue to support the region's human, social, and economic well-being into the future. [ABSTRACT FROM AUTHOR]

There is a critical need to develop effective strategies for the long-term sustainability of Canada's oceans. However, this is challenged by uncertainty over future impacts of global environmental and socioeconomic change on marine ecosystems, and how coastal communities will respond to these changes. Scenario analysis can address this uncertainty by exploring alternative futures for Canadian oceans under different pathways of climate change, economic development, social and policy changes. However, there has, to date, been no scenario analysis of Canada's future ocean sustainability at a national scale. To facilitate this process, we review whether the literature on existing scenarios of Canada's fisheries and marine ecosystems provides an integrative, social-ecological perspective about potential future conditions. Overall, there is sufficient national-level oceanographic data and application of ecosystem, biophysical, and socioeconomic models to generate projections of future ocean and socioeconomic trends in Canada. However, we find that the majority of marine-related scenario analyses in Canada focus on climate scenarios and the associated oceanographic and ecological changes. There is a gap in the incorporation of social, economic, and governance drivers in scenarios, as well as a lack of scenarios which consider the economic and social impact of future change. Moreover, available marine scenario studies mostly do not cover all three Canadian oceans simultaneously. To address these gaps, we propose to develop national-level scenarios using a matrix framework following the concept of Shared Socioeconomic Pathways, which would allow a social-ecological examination of Canada's oceans in terms of the state of future uncertainties. [ABSTRACT FROM AUTHOR]

Governance of South China Sea (SCS) fisheries remains weak despite acknowledgement of their widespread overexploitation for the past few decades. This review incorporates unreported fish catches to provide an improved baseline of the current status and societal contribution of SCS marine fisheries, so that the socio-economic and ecological consequences of continued fisheries unsustainability may be understood. Potential fisheries contribution to food and livelihoods include 11-17 million t in fisheries catch and USD 12-22 × 10 in fisheries landed value annually in the 2000s, and close to 3 million jobs. However, overfishing has resulted in biodiversity and habitat loss, and altered ecosystem trophic structures to a 'fished down' state. The present situation reiterates the urgency for fisheries policies that simultaneously address multiple political, social, economic, and biological dimensions at regional, national, and local scales. Importantly, improved cooperation between SCS nations, particularly in overcoming territorial disputes, is essential for effective regional fisheries governance. [ABSTRACT FROM AUTHOR]

The objective of this study is to assess the performance of fishery buybacks so as to determine the conditions under which positive socio-economic outcomes can occur during the process of fisheries adjustments. We do this by conducting a desk top review and supplementing the literature with targeted interviews with experts who have direct knowledge or experience with the implementation of buybacks. We focus on four case studies: Australia, the United States, British Columbia (Canada), and Norway. The outcome of each buyback was assessed in terms of the extent to which it achieved its capacity, economic, ecological, and social objectives. Our results indicate that buybacks can be successful in achieving specific programme objectives, such as reducing fishing capacity and increasing economic profits, at least in the short term. However, none of the buybacks evaluated were a resounding success due to the presence of latent permits or licences, effort creep, and continued reinvestment in the fishery. Enabling conditions for positive social outcomes included a strong economy, accountable leadership, and social assistance programmes tailored to local fishing communities. This study is useful in informing future buyback programmes' design and implementation. [ABSTRACT FROM AUTHOR]

The incentive to overexploit a fishery resource is thought to exist if the resource owner's discount rate is sufficiently higher than the biological productivity of the targeted fish stock. Coral reef fisheries are extensively overexploited worldwide, but the discount rates of reef fishers are largely unknown, and there is little information about how discount rates relate to the exploitation status of fisheries. We address these two research gaps for 48 small-scale reef fisheries around the world. We use a life history based method to derive fishery level intrinsic growth rates, and then apply fisheries economics theory to investigate the compatibility of 2 different discount rates (official and private) with the exploitation status of reef fisheries. We find that official discount rates that are normally used for policy making appear to be too low to fully reflect the short term outlook of reef fishers. Instead, our inferred annual average private discount rate of 107 % for fishers may better reflect the general overexploited state of reef fisheries. Our results indicate that in order to improve the chances of success, fisheries policies, which affect local fishers, may need to be evaluated using private discount rates rather than the currently used official discount rates. [ABSTRACT FROM AUTHOR]

The original version of this Article contained an error in Box 2, in which the Seychelles Conservation and Climate Adaptation Trust funding was written as (USD 75,000 in competitive grants per year). The original article can be found online at https://doi.org/10.1038/s41467-021-23168-y. [Extracted from the article]

Many fisheries management interventions are in the form of spatial regulations that change fishers' access to fishing grounds. How fishers respond to regulations directly affects the ecological and socioeconomic outcomes of management objectives, but little attention is paid to fishers' willingness and ability to make spatial adjustments. We investigate the spatial preferences of small-scale fishers in Sabah, Malaysia, within a framework of mental maps and perceptions. We find that the majority of fishers fish within preferred resource spaces that were heavily influenced by perceptions of safety. Most fishers exhibit low flexibility to adapt to spatial changes, based on i) unwillingness to travel beyond preferred resource spaces; ii) unwillingness to leave the fishery; and iii) low to no alternative employment opportunities. We emphasize the need to uncover and understand human dimension parameters to reduce uncertainty surrounding human behaviour, and ultimately facilitate the attainment of fisheries management objectives. [ABSTRACT FROM AUTHOR]

Marine spatial planning tends to prioritise biological conservation targets over socio-economic considerations, which may incur lower user compliance and ultimately compromise management success. We argue for more inclusion of human dimensions in spatial management, so that outcomes not only fulfill biodiversity and conservation objectives, but are also acceptable to resource users. We propose a fuzzy logic framework that will facilitate this task- The protected area suitability index (PASI) combines fishers' spatial preferences with biological criteria to assess site suitability for protection from fishing. We apply the PASI in a spatial evaluation of a small-scale reef fishery in Sabah, Malaysia. While our results pertain to fishers specifically, the PASI can also be customized to include the interests of other stakeholders and resource users, as well as incorporate varying levels of protection. [ABSTRACT FROM AUTHOR]

Many marine protected areas (MPAs), particularly in developing countries, have failed because of a lack of enforcement and monitoring due to limited public funds for conservation. Private investment and management in MPAs offers a potential solution, and has been applied with initial positive results at the Sugud Islands Marine Conservation Area (SIMCA) in Sabah, Malaysia. Conservation fees charged to visitors to Lankayan Island Dive Resort within the SIMCA have generated a sustainable source of financing to meet the majority of management costs for the conservation area, which is separately managed by a private organization called Reef Guardian. The availability of adequate funds has enabled Reef Guardian to invest in personnel training and surveillance technology to enforce the rules and regulations of the conservation area. In collaboration with government enforcement agencies, Reef Guardian has reduced threats such as illegal fishing and turtle egg poaching. As a result, there is a comparatively high abundance of commercially important fish, and turtle nestings at Lankayan Island have increased. Private management can be effective in conserving biodiversity in MPAs, and may well succeed regionally in suitable locations. [ABSTRACT FROM AUTHOR]