The Walton Family Foundation, Wal-Mart, is expecting profits in the billions from selling us back our fish.
"In a August 16th news release from Wal-Mart corporate headquarters in Bentonville, Arkansas, the Walton Family Foundation announced investments totaling more than $71.8 million awarded to various environmental initiatives in 2010. The Walton Family Foundation is also working "to create economic incentives for ocean conservation," while candidly pledging their support for "projects that reverse the incentives to fish unsustainably that exist in 'open access fisheries' by creating catch share programs," according to the official news release.
A broad coalition of commercial and recreational fishing, consumer and environmental groups is opposing the catch shares programs being pushed by NOAA Administrator Jane Lubchenco, a former vice-chair of the Board of Directors of Environmental Defense, because these programs amount to the privatization of public trust resources by concentrating fisheries in the hands of a few corporate hands. Wherever catch shares have been introduced, local fishing communities, fish populations and the environment have been devastated.
"A catch share, also known as an individual fishing quota, is a transferable voucher that gives individuals or businesses the ability to access a fixed percentage of the total authorized catch of a particular species," according to Food and Water Watch. "Fishery management systems based on catch shares turn a public resource into private property and have lead to socioeconomic and environmental problems. Contrary to arguments by catch share proponents..
