Stocking Up: Securing our marine economy

By Laura Eadie and Caroline HoisingtonSeptember 2011

Our marine economy—valuable but not fully visible?

Economically ‘visible’Commercial fishing

$2.2 bnBoat/ship building

$6.4 bnMarine tourism $11.1 bnOffshore oil & gas

$24.2 bn

Carbon storage?

$15.8 billion

Fish nurseries, pest and disease control?

$6.2 billion

Recreation & fishing?

$1.9 billion

The world’s oceans are at risk of crashing

6 % drop in ocean productivity since 1990

63 % of stocks over-fished

29 % of seagrass lost since 1879

61 % of corals have gone

65 – 80 % of large predator fish gone

We need to secure our marine asset base

$11 billion marine tourism industry

9,000 commercial fishing jobs

1 in 5 Australians are recreational fishers

42 % Commonwealth fisheries over-fished or unknown

Half Commonwealth fisheries struggling to cope with economic pressure

World’s largestseagrass beds,carbon storage 10 – 40 times forests

World’s highest diversity with over 4,000 fish species

15 % decline in growth rate of long-lived corals in Great Barrier Reef1

1 The decline since 1990 is unprecedented in 400 years of records

Established MPAs show economic benefits• Larger, more fertile fish• Resistance to pollution, predators

and disease• Immediate benefits for tourism• Better catch for recreational fishers

within a few years• Higher and more stable long-term

commercial fishing returns, if combined with good fisheries management

The South-west MPA could protect a further $1.1 billion per year

Scientific blueprint –$1.5 billion per year in ecosystem services

Proposed highly protected areas –$0.4 billion per year in ecosystem services

Coastal shelf

Existing and proposed oil and gas leases

Sustainably managed fisheries could be worth billions

International ecological collapse

Most likely baseline scenario

Current production

3.1

2.4

2.2

PROJECTED VALUE OF PRODUCTION FROM ALL AUSTRALIAN FISHERIES IN 20 YEARS

Source: CPD analysis using Delgado 2003

$ Billions per annum Gross Value of Production1 (2011 terms)

42 % increase

1 This includes fish products from aquaculture, for which prices are also expected to rise

Some simple measures can secure our economic future1. Invest in marine protected areas that meet

scientific recommendations for coastal shelf, seagrass and coral reefs

2. Rebuild fish stocks with a view to raising target stock levels to 50 – 75 per cent of un-fished biomass

3. Ensure sustainable management for all commercial fisheries

4. Establish baseline data for recreational catch levels and un-fished biomass

5. Support marketing and business innovation for sustainable Australian seafood, and sustainable marine tourism.

For more information...

Copies of ‘Stocking Up’ are available at

http://cpd.org.au/2011/09/stocking-up/