When eating at a sea-side fish tavern along Cyprus’ gold coasts, we rarely consider how the fish we consume were caught, and what was used to catch them. Unless, of course, you may have watched the Netflix documentary Seaspiracy, which has left a profound impact on all viewers. The focus of the documentary is to highlight the unsustainable fishing methods used by large corporations to catch ample fish to sell. As the global population continues to rise, so does the demand for food. 

To keep up with the demand, fisheries seek to catch large numbers of fish, more than what the oceans can naturally restore. According to The World Counts, a platform that tracks global populations and the challenges we face to ensure our planet’s sustainability, finds that “fishing today is dominated by a gigantic fishing fleet with enough fishing capacity to cover 4 Earth-like planets. It far out-matches the ocean’s ability to renew the number of fish we consume.”

One of these methods, drift netting, uses an obscenely large net that is opened against ocean currents, or as close to the sea floor as possible, raking away critical resources for marine life, as well as unethically catching a variety of fish. This is just one example of the various unethical fishing practices, which have caught the attention of regulators globally. To protect the ocean’s ecosystems, fish populations, and encourage healthier fishing practices, several movements have taken place to establish improved aquaculture and a Blue Economy.

The Blue Economy, as defined by the World Bank, promotes the “sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem.” It includes various stakeholders including the energy, tourism, shipping, and fisheries sectors, all of which impact the environment and marine ecosystems in their own ways. The main concern is ensuring the sustainability of marine-related activities with a rising global population, while enabling industries to flourish.

As the revenue generated from the Fish and Seafood sector is expected to continue to rise from $611 billion in 2023 to an estimated $781 billion in 2026, regulators and environmentalists are looking to establish sustainable and ethical fishing practices globally. 

One such effort is clearly outlined in the European Green Deal’s mission to protect the environment and our planet’s oceans, and their approach to a sustainable blue economy. Its objectives aim to contribute to climate change mitigation, a more circular economy, and creating a green infrastructure in coastal areas.

The tidal wave of efforts to secure a Blue Economy are supported by the EU’s initiative known as BlueInvest, which aims to provide “investment and market readiness assistance to innovative SMEs and start-ups, promotes them to its growing investor community and helps them to raise finance. BlueInvest also builds investor capacity and helps investors to expand their portfolio into the blue economy.” BlueInvest further supports financial funding through its InvestEU Blue Economy Fund, which is supported by the European Investment Fund (EIF) through a €10 billion market equity financing strategy. 

These initiatives were born from issues and concerns raised by the Food and Agriculture Organization of the United Nations (FAO), and smaller activist organizations alike. Some concerns, for example, highlight overfishing concerns that indicate over 70% of certain shark populations have been wiped out. According to another finding from The World Counts, if the world does not change fishing practices, the world’s oceans will be empty in 2048, just 15 years away.

As an island, Cyprus has a long history in the fisheries sector and has developed parts of its tourism and hospitality industries around its fishing practices and attractions. One of Cyprus’ most iconic fish, the trout, has been a large part of the island’s aquaculture. Starting in 1969, fisheries in the Troodos mountain range were exploring the best trout farming methods. 

The Fisheries and Marine Research Department constructed the experimental freshwater fish culture station at Kalopanayiotis, which led to the island’s first private commercial trout farms.

Today, Cyprus’ fisheries sector consists of coastal fishing, bottom trawling, and multipurpose vessel fishing. There are nine marine open sea cage farms, three marine hatcheries, a single land-based shrimp farm, and eight minor freshwater units. The sector has generated €36.5 million in revenue and 7.3 thousand tonnes of fish in 2020. 

However, Cyprus also has a large fish trade deficit; looking at 2021 alone, the island imported €91.7 million worth of fish, and exported only €28.4 million. The deficit can be attributed to several critical challenges including overfishing, a lack of fishing space due to the occupation of the island’s north, as well as limited initiatives and access to education on contemporary fishing practices. To tackle these challenges, Cyprus is looking to redefine its aquaculture and invest in its fisheries sector through the EU’s aid.

As part of Europe’s sustainable blue economy strategy, Cyprus has been included in an effort to implement the EU’s common fisheries policy (CFP) and revolutionize the island’s aquaculture by adopting the island’s European Maritime, Fisheries and Aquaculture Fund (EMFAF) program. 

Through an investment program ranging from 2021-2027, the EU will invest €38.3 million to bring the Cypriot program to a total of €54.7 million. The majority of the fund’s allocation (59%) will be geared towards sustainable fisheries, 11% will be directed at sustainable aquaculture and marketing, 12% aimed at developing a sustainable blue economy, and the final 10% will focus on international ocean governance.

The program looks to revamp Cyprus’ fishing vessels and provide sustainable investments in the sector’s infrastructure, as well as enhance marine environment knowledge. The program will also contribute to the sector’s digital transformation, aiming to improve the management of fisheries and digitalizing the fisheries control. 

Several countries around the world have already started to set examples for better aquaculture that is aligned with Blue Economy initiatives and targets, encouraging fisheries to innovate in their fishing practices.

Looking at renewed practices in aquaculture, China’s carp farmers have innovated using the foods that carps use to sustainably scale supply with a rising population’s demand. A study from the National Geographic highlights that “the problem isn’t the ancient art of aquaculture per se; it’s the rapid intensification of it. Chinese farmers started raising carp in their rice fields at least 2,500 years ago. But with that country’s aquacultural output now at 42 million tons a year, fish pens line many rivers, lakes, and seashores.”

To resolve this challenge, farmers looked to stock their ponds with carp and tilapia breeds that grow faster through the use of concentrated fish seed. The study discusses fish geneticist Li Sifa’s approach to fast-growing breeds which have greatly contributed to China’s exports, as well as feeding its population. Li Sifa believes that “one good variety can raise a strong industry that can feed more people. That is my duty. To make better fish, more fish, so farmers can get rich and people can have more food.”

Looking within Cyprus’ immediate region, Spain has also implemented Blue Economy fishing strategies. Frime, a Spanish sustainable tuna trading company displays its commitment to the goals listed in the European Green Deal by exercising efficient use of energy resources, ensuring that it contributes to the circular economy, reducing carbon dioxide emissions, and limiting its waste of resources and raw materials. 

In doing so, Frime exercises eco-labelling, stating that its products are farmed and produced through environmentally-friendly methods. In turn this certification acquired from the Marine Stewardship Council (MSC), grants the company greater access to more competitive markets and prices.

Environmental, social, and governance (ESG) goals permeate nearly every part of the way we do things. We must be proactive in creating innovative solutions to the challenges we face in protecting our planet’s environments and ecosystems. The fishing sector is a crucial aspect to ensuring sustainability in food and marine life, one in which Cyprus may play a critical role in the region when taking into consideration the ample aid it is receiving from the EU. 

As the island further implements Blue Economy practices, it must also be proactive in protecting its small-scale fisheries, which for a long time have been the back-bone of the island’s fishing sector. 

Maria Hadjimichael conducted a study on the rise of the Blue Economy and its impact on the island’s small-scale fisheries, noting that “it appears the rise of more economically important activities in marine areas have been given priority over small-scale fisheries; consequently small-scale fishers have been left to defend the importance of their profession in solitude.” 

In its efforts to adopt the Blue Economy, Cyprus must first look to bolster its local players both big and small, before starting to scale to regional and international demands.