The report, Bankrupting the Pacific: How Multilateral Development Banks are Contributing to Overfishing and Helping Push Sea Turtles and Seabirds to the Brink of Extinction in the Pacific, released by the Sea Turtle Restoration Project today, shows how the International Finance Corporation, a member of the World Bank Group, and Asian Development Bank poured millions of dollars into destructive longline fishing in the Pacific. These investments were made in critical nesting and migratory habitats of critically endangered sea turtles and seabirds without any assessment of the impact on biodiversity of the regions where the projects took place and in direct violation of their own environmental and fisheries policies.
The female nesting population of the 100 million year old Pacific leatherback sea turtle has collapsed by 95 percent since 1980. The leatherback is listed as critically endangered by the World Conservation Union and scientists warn that it could extinct in the next 5-30 years unless immediate action to remove threats to its survival such as longline fishing. The Pacific loggerhead sea turtle and the black-footed albatross are also caught primarily by longlines and considered on the precipice of extinction. Longline fishing is the main threat to albatross seabirds, 19 of the 21 of the species of which are considered threatened or endangered.
"The banks do not even follow their own weak environmental policies. Despite the fact that longlines catch or kill about 4.4 million non-target sharks, seabirds, sea turtles, billfish and marine mammals each year in the Pacific alone, in each case, the banks found that no environmental impact report was even required." noted Ovetz.
These investments have also triggered overfishing of the very resource that was supposed to contribute to long-term development. Recent reports in the scientific journals Nature and Ecology have warned that tuna, billfish and shark populations have declined by 87-99 percent in the Atlantic, Gulf of Mexico and the Pacific since the 1950s.
The report calls for the banks to cancel ongoing longline fishing projects, implement a moratorium on all future longline projects, and implement a set of reforms of their own practices to prevent further damage to the ocean ecosystem.
For a copy of the report Bankrupting the Pacific go to: http://www.seaturtles.org/pdf/acf1120.pdf
For a review copy of the Sea Turtle Restoration Project's new documentary film Last Journey for the Leatherback? contact Robert Ovetz, PhD.
The Sea Turtle Restoration Project is a California-based international marine conservation organization that works to protect sea turtles and other marine species in the United States and in countries around the world. For more information about sea turtles and the Sea Turtle Restoration Project, please visit: www.seaturtles.org and www.savetheleatherback.com
Robert Ovetz, PhD, Save the Leatherback Campaign Coordinator, Sea Turtle Restoration Project, +1 415-488-0370 x106, email@example.com