Risky Business: Don't put your money in unsustainable fishing

When we trust a bank with our savings and investments, we assume the bank will do only "good" with our hard-earned cash. Yet throughout Europe, and the world, major banks have ploughed massive amounts of money into unsustainable enterprises that are bad for the planet, including the destruction of our oceans. 

Europe's fishing and seafood laws are changing – for the better. This is great for the marine environment and for those who choose to fish sustainably. It's not such good news for those who make their money from destructive or unselective ways of catching fish.

Greenpeace wants to make bankers and investors aware of this new reality, which is why we're publishing Risky Business - Why Smart Investors Must Avoid Unsustainable Seafood Operations; to show how sweeping changes to the European Union's Common Fisheries Policy (CFP) will have a radical effect on the profitability of fishing companies that rely on a business model of overfishing and destructive fishing – and the seafood market in general.

Under the new rules, fishing opportunities will be reduced for stocks that have been overfished and a 'no-discards' policy will be need to be observed, making unselective fishing operations more costly. EU fishing capacity will need to be brought down and higher sustainability standards applied to EU fishing vessels operating beyond Europe's waters.

The EU fishing community is being encouraged to shift towards environmentally sustainable methods. As a result, the net is closing on Europe's industrial fishing operators. Companies like France's Sapmer and Spain's Inpesca S.A and Albacora S.A have spent decades profiting from destructive fishing practices, weak fisheries policies, large subsidies and arguably naïve financial investments.