The Prospects of Fish Production in the Age of Emerging Technologies
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By Eden Djanashvili, Deeptech Expert
What is going on?
According to the World Bank report, nearly 90% of worldwide marine fish stocks are currently fully utilized or overfished, while unregulated fishing practices pose a significant threat to wild capture fisheries. The health of marine biodiversity is intricately linked to issues such as ocean pollution and acidification, with approximately two-thirds of the Earth's oceans displaying heightened human influence between 2008 and 2013.
What does it mean?
Will the current state regarding fish availability lead to a scarcity of fish in our diets? While challenges exist (climate change, regulatory measures, consumer choices, etc.), the goal is not to run out of fish to eat but to ensure that fisheries are managed sustainably to provide a consistent source of seafood while preserving marine ecosystems. Responsible management, conservation efforts, and consumer awareness all play vital roles in achieving this balance. It's important for individuals, governments, and the fishing industry to work together to address these challenges and promote sustainable seafood practices.
Why does it matter?
Fish scarcity matters due to its potential economic, regulatory, and environmental impacts. Investors and businesses involved in the fishing industry need to consider the sustainability of their operations and adapt to changing market dynamics to mitigate risks and seize opportunities.
💸For markets: businesses can take several steps to mitigate the risk of fish scarcity and promote sustainable practices in the fisheries and seafood industry.
Numerous innovations are currently unfolding in the realm of addressing fish scarcity, and here are a few notable examples:
Selective Fishing Gear: Innovations in fishing gear design aim to reduce bycatch (the unintentional capture of non-target species) and minimize damage to the seabed. Examples include turtle excluder devices (TEDs) in shrimp trawling and escape panels in fishing nets.
Fishery Monitoring Technologies: Advanced monitoring technologies such as satellite-based vessel tracking and onboard cameras help improve transparency in fisheries. These innovations enable real-time data collection and verification of fishing activities.
Aquaculture Innovations: Sustainable aquaculture practices have seen significant advancements. Closed-loop aquaculture systems, recirculating aquaculture systems (RAS), and land-based fish farms minimize environmental impacts and reduce disease risks.
Alternative Protein Sources: The development of alternative protein sources, such as plant-based seafood and cell-cultured (lab-grown) fish, offers sustainable alternatives to traditional seafood products.
Ocean Farming: Innovations in ocean farming involve cultivating seaweed, shellfish, and finfish in integrated systems that reduce the environmental impact of seafood production while promoting ecosystem health.
Blockchain and Traceability: Blockchain technology is being used to create transparent and immutable supply chains for seafood. This helps trace products from their source to the consumer, reducing the risk of illegal or unsustainable fishing practices.
Eco-Friendly Fishing Technologies: Innovations like cleaner and more fuel-efficient engines, as well as the use of renewable energy sources on fishing vessels, aim to reduce the carbon footprint of fishing operations.
Data Analytics and Predictive Modeling: Data analytics and predictive modeling help assess fish stocks, identify overfishing risks, and inform fisheries management decisions more accurately.
Artificial Intelligence (AI) and Machine Learning: AI is being applied to analyze large datasets from various sources, such as satellite imagery and environmental sensors, to predict fish migrations and support sustainable fishing practices.
Sustainable Seafood Certification: Ongoing improvements in sustainable seafood certification standards and labels provide consumers with better information about the environmental and ethical aspects of their seafood choices.
Community-Based Fisheries Management: Innovations in community-based and co-management approaches empower local communities to take a more active role in sustainable fisheries management.
Conservation Technologies: Innovations in conservation technologies, such as underwater drones and remote-operated vehicles (ROVs), support marine protected areas (MPAs) and scientific research to better understand and protect marine ecosystems.
While challenges arise, if we don’t start to implement new methods for fish scarcity it will lead us to job losses, economic instability, and poverty in fishing-dependent communities. And, can disrupt global trade flows and impact economies reliant on seafood exports.
🧑🏿🤝🧑🏻For society: fish scarcity can lead to malnutrition, job losses
Food Security: Fish is a crucial source of protein and nutrition for billions of people worldwide. It is particularly important in regions where seafood is a dietary staple. Fish scarcity can lead to malnutrition and food insecurity, affecting the health and well-being of communities.
Environmental Balance: Fish play a vital role in marine ecosystems. They help regulate the balance of marine species and control populations of smaller organisms. A decline in fish populations can disrupt these ecosystems, affecting the health of the oceans.
Recreational and Tourism Activities: Sport fishing and ecotourism are important industries in many coastal regions. Fish scarcity can reduce opportunities for recreational fishing and harm tourism revenue.
Biodiversity Conservation: Fish scarcity is often a symptom of overfishing and habitat degradation. Addressing fish scarcity is essential for the conservation of marine biodiversity, including endangered species.
Climate Change Resilience: Fisheries can be vulnerable to the impacts of climate change, including altered ocean temperatures and acidification. Sustainable fishing practices can help build resilience to these changes.
Scientific Research: Fish provide valuable insights for scientific research, including studies on ocean health, climate change effects, and ecological dynamics. Fish scarcity can limit research opportunities and hinder scientific progress.
🔮What’s next?
The fish scarcity industry presents several business and investment opportunities as efforts to address sustainability and conservation in fisheries and aquaculture continue to grow. Here's what's next in terms of business and investment opportunities in this sector:
Sustainable Aquaculture Ventures: Investing in sustainable aquaculture practices and technologies, such as land-based recirculating aquaculture systems (RAS) and innovative fish farming methods, offers promising opportunities to meet the increasing demand for seafood while minimizing environmental impact.
Alternative Protein Sources: Businesses that develop and market alternative protein sources like plant-based seafood and cell-cultured fish are well-positioned for growth. These products cater to environmentally conscious consumers seeking sustainable protein options.
Technology and Software Solutions: There's a growing need for technology solutions that enhance transparency in the seafood supply chain. Businesses that offer blockchain-based traceability systems, AI-driven analytics, and supply chain management software can tap into this demand.
Conservation and Eco-Tourism: Companies that specialize in marine conservation, eco-tourism, and sustainable fishing excursions can capitalize on the increasing interest in responsible and educational marine experiences.
Eco-Certification Services: As consumers prioritize sustainability, businesses offering eco-certification and labeling services, helping seafood producers verify and promote their sustainable practices, will find expanding opportunities.
Fishery Improvement Projects (FIPs): Investments in Fishery Improvement Projects, which work to improve the sustainability of specific fisheries, can yield positive returns while contributing to responsible fishing practices.
Marine Technology and Equipment: Developing and manufacturing advanced marine technologies and equipment, such as eco-friendly fishing gear, underwater drones, and fishery management tools, is a growing market.
Seafood Distribution and Retail: Sustainable seafood distribution and retail businesses that source and sell eco-certified products can capture market share among environmentally conscious consumers.
Consulting and Advisory Services: Companies offering consulting and advisory services related to sustainable fisheries management, regulatory compliance, and environmental impact assessment can provide valuable expertise to stakeholders in the industry.
Impact Investing: Impact investors can support organizations and startups dedicated to addressing fish scarcity by funding projects and initiatives that promote responsible fishing practices and marine conservation.
Research and Development: Investments in research and development focused on improving aquaculture efficiency, selective breeding, and seafood production sustainability can lead to breakthrough innovations.
Global Partnerships: Businesses that facilitate global partnerships and collaborations to address fish scarcity, aligning with international sustainability goals and regulations, can create value and drive positive change.
As the world grapples with the challenges of fish scarcity and sustainable seafood production, businesses and investors have opportunities to contribute to responsible practices, environmental conservation, and meeting the growing demand for seafood in an ethical and sustainable manner. These opportunities align with the broader goal of ensuring a stable and thriving marine ecosystem for future generations.
✨ That’s all for today. Thanks for reading !
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