Moody’s Foundation and Fundación MarViva support sustainable fishing initiative in Costa Rica

• More than 14,000 families depend on ocean sustainability along Costa Rica's Pacific coast.
• Illegal and unsustainable fishing practices lead to overexploitation and resource depletion, threatening biodiversity, livelihoods and food security.

The communities of the Gulf of Nicoya, Puerto Níspero, Costa de Pájaros, Puerto Pochote, Montero, Puerto Palito and Puerto Thiel, launched a fishing monitoring system for the unloading of fish that they receive at their collection centers. The implementation of this system took place over a year, an action that demonstrates the commitment of these communities to responsible fishing.

The continuing lack of access to biological and fishery data limits the capacity of institutions and users of marine resources in Costa Rica to validate and take effective measures for the management and conservation of these resources. Therefore, these situations represent a risk to the sustainability of biodiversity and to those who depend on productive activities related to the sea.

The initiative, supported by a partnership between Fundación MarViva and Moody's Foundation, includes the digitization and analysis of data collected by collection centers and teamwork with communities to give, in a participatory way, recommendations and lessons so that they can be applied to other fishing communities.

“These collaborative processes are essential to improve the quality of and access to fishery data, which will allow the implementation of appropriate strategies that promote the sustainable development and well-being of the Gulf of Nicoya,” affirmed Cristina Sánchez, Science Manager at Fundación MarViva.

The vulnerability of the species, the size at maturity, the closed season, the respect for the areas allowed for fishing and selective fishing gear are some of the responsible fishing practices that will be strengthened as a result of this process.

“Moody's is committed to providing communities in emerging markets that are vulnerable to ecological degradation with resources, services and tools to be resilient amid an ever-changing planet. By promoting ecosystem restoration, we are taking steps to help protect infrastructure, the economy and communities in emerging markets,” affirmed Adriana Hernández Herrera, Senior Vice President at Moody's Investors Service and a member of the Moody's Foundation Advisory Board.

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