Simultaneously, the GMC project’s NGO partner, Sustainable Fisheries Partnership (SFP), works to engage international seafood retailers and buyers to help support the critical improvements needed for the sustainability of fisheries. In short, the model harnesses market incentive tools and bottom-up public governance efforts to effectively drive sustainability to meet in the middle of fishery supply chains.
To date, the project has facilitated new fisheries policy consultation forums in Costa Rica, Ecuador, and Indonesia and has strengthened the fisheries management Technical Working Groups in the Philippines. The GMC Project is also providing direct assistance to seven Fishery Improvement Projects (FIPs) and indirect support to another two. Between these nine FIPs the project is contributing to improve the sustainability of an estimated 344,313 metric tons of annual seafood landings. SFP has also helped eight major global seafood retailers to adopt or improve their sustainable seafood purchasing policies, and have engaged an additional 29 international seafood supplying companies in four relevant Supply Chain Roundtables to support fisheries improvements across the globe.
The GMC Project with the support of its partner SFP has helped secure industry financing for the sustainability of fisheries. In Ecuador, for example, the GMC Project provided seed funding to initiate the Small Pelagic FIP, and in return, the Ecuadorian private sector FIP implementers committed more than $1.5 million dollars to implement the FIP’s five-year work plan. This FIP, which is comprised of 19 Ecuadorian fishing and fishmeal producing companies, is aiming to achieve sustainable certified from IFFO-RS, the world’s leading sustainable certifying agency for reduction fisheries.