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Sumaila is charting unexplored waters by applying the lens of economics, not to maximize profits, but to maximize the benefit of fisheries to everyone. He notes that 70 per cent of the value of high seas fishing goes to just 10 countries.

The Volvo jury praised his innovative, interdisciplinary approach “integrating the social and economic dimensions with ecology, law, fisheries science and traditional knowledge to build new pathways towards sustainable fisheries.”

The award, which includes a cash prize of $225,000, will be presented in Stockholm on November 29.

Based on his research, Sumaila has also proposed ending subsidies to fisheries that lead to overfishing, and reducing the world’s fishing fleets by up to 60 per cent.

“Globally, we have about two-and-a-half times more fleet than we need to catch what we should take sustainably,” he said. “That is huge, and we know that it will be a tough conversation to have initially. But if we can absorb that shock through compensation to fishers the better our fisheries will be in the future.”

The United States has already undertaken fleet reductions to reduce overfishing, he noted.

Sumaila is also finding an audience for his ideas at the European Union Fisheries Council, the United Nations, and with British royal environmental advocate Prince Charles.

The Prince approached Sumaila on the subject of subsidies with the notion of creating consensus for global action.

“He said, tell me which countries are causing the biggest problem for our oceans and I will invite them all to the palace for dinner,” he recalled.

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