EDF Statement on Monterey’s Vote to Fund Sustainable Fishing and California Fisheries Fund Grants Major Loan

(MONTEREY, C.A. – July 22, 2015) Environmental Defense Fund applauds the Monterey City Council on its decision to use $225,000 from the city’s Tidelands Trust Fund to increase local, sustainable fishing. EDF’s California Fisheries Fund is also proud to announce today that we will issue a low-interest loan of $220,000 to the Monterey Bay Fisheries Trust (MBFT) to support its vision of ensuring that Monterey fishermen have access to sustainable fishing.

“The CFF and city funds will be used to acquire rights for Monterey fishermen to catch hundreds of thousands of pounds of groundfish under a sustainable management system. The allocated pounds, also known as “fishing quota,” will be managed by the Monterey Bay Fisheries Trust, a new community non-profit dedicated to owning and managing groundfish quota for local fishermen.

We are proud to help advance the Monterey Bay Fisheries Trust’s goal of ensuring the long-term viability of fishing in this small but historic and vibrant fishing town. We look forward to continuing to support the Monterey’s dedication to environmental stewardship, sustainability and its strong fishing community and heritage.

With its CFF loan, the MBFT will be better equipped to serve a community of local, family-owned businesses, make it easier for new fishermen to lease quota with flexible terms, support better technology that provides quick and improved services for fishermen and most importantly it will ensure fishermen will be able to fish out of Monterey Bay for future generations to come.”

• Phoebe Higgins, Director, California Fisheries Fund, Oceans Program