An ambitious goal to mobilise US$100 million to safeguard the ocean and sustainable seafood supplies over the next decade has been unveiled by the MSC.

The Marine Stewardship Council (MSC) announcement, an international non-profit which sets standards for sustainable fishing and supply chain assurance, marks a significant expansion of the MSC’s Ocean Stewardship Fund.

Established in 2018, the fund is supported by 5% of royalty sales from MSC certified labelled seafood and every consumer purchase makes a difference. Since 2022 it has been further bolstered by generous philanthropic donations and mobilising further funding over the next ten years will be imperative to help more fisheries and communities respond to the challenges they face and realise the benefits of sustainable fishing.

The MSC’s press release said: ‘The combined pressures on the ocean: climate change, overfishing, habitat destruction and poor fisheries management, are presenting a major challenge for communities who rely on fishing for their livelihoods and nutrition.

The MSC is responding to these enormous challenges by funding innovative research and supporting fisheries at all stages on the path to sustainability. The US$100 million will be channelled through the Ocean Stewardship Fund, which has already mobilised $10 million through MSC label royalties and third-party donations.

The significant expansion of the fund is also crucial to support more fisheries on their path to sustainability, particularly small-scale fisheries and those in emerging economies. Small-scale fisheries employ around 90% of the wild capture fishing workforce and 50% of traded seafood comes from developing economies.’

New Chair and Trustees

The Marine Stewardship Council welcomes a new Chair and trustees. Hartwig Schafer becomes the new Chair of MSC’s Board of Trustees, and Mikel Durham, Darian McBain, Eddy Njoroge, Sergio Espejo Yaksic, and Birgit Cameron take up seats on Board.

Most recently, Schafer served as the World Bank’s Vice President for the South Asia Region overseeing a portfolio of close to US$60 billion in development projects and programs across the region.  Prior to this, he was Vice President for Global Themes where he led the World Bank Group’s engagement across a range of corporate priority areas, including climate change.