A new study led by University of British Columbia researchers has revealed how the effect of climate change will create a huge drop in profitability for fisheries unless action is taken now.
Climate change is increasing ocean temperature and acidity – meaning smaller fish and higher mortality rates – all issues that may directly impact on fisheries.
The worry is that with the oceans warming up, species will move further towards the poles and deeper waters.
Whilst this may benefit fisheries in the far north, others, especially those in the tropics, can expect a loss in revenue - and this is in addition to pollution and overfishing which have already taken their toll on stocks.
“Fisheries are already providing fewer fish and making less money than they could if we curbed overfishing,” said Rashid Sumaila, principal investigator of the Fisheries Economics Research Unit at UBC and lead author of the study. “We could be earning interest, but instead we’re fishing away the capital. Climate change is likely to cause more losses unless we choose to act.”
The research maintains that fish stocks will be more robust to climate change if the combined stresses from overfishing, habitat degradation, pollution runoff, land-use transformation, competing aquatic resource uses and other anthropogenic factors are minimised.
The study was funded by the Pew Charitable Trusts, National Geographic, the World Bank and the National Oceanic and Atmospheric Administration (NOAA).
