“In Peru, Fishing Less Anchoveta Pays Off.” World Bank. World Bank Group, 6 Mar. 2017. Web. 12 Mar. 2017.
Peru is home to a very large single stock fishery of the Anchoveta. Until 2009, The Peruvian Anchoveta Fisher was managed as an Open-Access Fishery. This led to companies investing in huge vessels to catch as much fish as they could. The government put the World Bank in charge of the Industrial Anchoveta Fishery. The first step the World Bank took was restoring the health of the stocks by reducing fishing.
This relates to the Environment in that, if the World Bank did not step in to help this fishery, the Anchoveta fish may have gone extinct in that region. This could have many potential consequences, such as this fish not being able to be turned into potential omega-3 oil supplements, and turned into potential fishmeal for livestock and aquaculture in many different countries. This is a great example of what happens in a Tragedy of the Commons scenario.
It is great to hear that the World Bank is working to restore the health of stocks. What else do you think the World Bank can do besides reduce fishing?
Hi Emily, thank you for reading my article. The World Bank could help by helping these fisherman to find jobs that are not related to fishing. That way we could reduce the fish being caught