Insurance schemes with the potential to improve the resilience of global fisheries face a host of future challenges, researchers say.
The world’s first “Fisheries Index Insurance” scheme, launched by an international consortium in July, is a sovereign-level instrument designed to protect Caribbean fishing communities from extreme weather events which may become more frequent and intense due to climate change.
The team of scientists from the University of Exeter and Centre for Fisheries, Environment and Aquaculture Science (Cefas) today publish a letter in Nature Climate Change highlighting the challenges of extending climate risk insurance from agriculture to fisheries.
The lead author, Nigel Sainsbury, from the University of Exeter, said: “Climate risk insurance can help people and businesses involved in fisheries bounce back faster from extreme weather events, but it is important that this doesn’t lead to less sustainable fishing outcomes and that more marginalised groups, particularly unregistered fishers and women involved in fisheries, don’t miss out on payments.”
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