Courthouse Nonprofit Launches Fund to Help Sustain Asian Fisheries
A Courthouse-based nonprofit has launched a new investment fund to help coastal fishers in Asia be more sustainable, raising $10 million in its first round of funding.
Non-governmental organization Rare, which focuses on global conservation, manages The Meloy Fund, an investment fund that looks to incentivize sustainable fisheries and increase the number of fish in the sea. It will do this by investing in companies that can help fishing communities or help provide alternative employment for fishers in Indonesia and the Philippines.
The fund, unique in both Arlington and the financial industry, a spokeswoman said, projects it will improve the lives of 100,000 fishers and their families. It will also help manage 1.2 million hectares of coastal habitats, including coral reefs, seagrass beds and mangroves.