Michael Bloomberg, New York City’s former mayor, took his eco plunge soon after stepping down from office. He is now all set to spend $53 million in his bid to restore the world’s fish population. His new venture, christened Vibrant Oceans Initiative will look at bring about reforms in the fishery segment of nations such as Brazil, Chile, and the Philippines. The aim is to stabilize the number of fish available so that the people are fed.
The Initiative will also look to engage directly with fishermen of Brazil and the Philippines. In this bid, Bloomberg will be working with philanthropies named Oceana, Rare and EKO Asset Management.
While Oceana is among the largest international ocean conservation organizations in the world, which is capable of enforcing reasonable catch-limits as well as reducing the amount of unintentionally caught and discarded sea life, Rare looks at training local fishermen in conservation efforts too.
By combining these efforts, it would be easy to provide fishing rights for near-shore fishers and also give shape to protected areas that can aid fish to reproduce with no hassles whatsoever. EKO Assets, in the meantime, will design investment blueprints to lure private investors to financially reward local fishermen.
With overfishing turning out to be bane, the current situation is such that only 13% of the world’s fisheries are safe from being over-harvested. Bloomberg hopes the efforts would help bring in investments and partnerships so as to educate and make aware local fishermen in the promotion of proper management.