The long term costs for the protection of this resource are calculated to be in

The long term costs for the protection of this

This preview shows page 87 - 89 out of 139 pages.

The long-term costs for the protection of this resource arecalculated to be in the order of $8 million per annum. The study identifies that an estimatedpotential increase in economic rent derived from cooperative management could be a further$150 million (studies have shown that the effective cooperative ecosystem-approach tomanagement of the hake stocks alone could increase available income by 40%). Theimplementation costs for this further layer of management have been calculated to be a further$16 million per annum. Therefore, a 7% increase in investment will provide insurance againstloss of $110 million in economic rent and a further investment of $8 million could releasebenefits of another $150 million (nearly a twenty-fold return on investment). The initialcapital outlay by GEF to establish this structure would be $1.3 million per annum over 4 yearswith a further input from the countries of $15.5 million per annum The actual global benefitsto sustaining fisheries and maintaining ecosystem diversity would be the subject of workundertaken by the Commission as part of the proposed monitoring of indicators that is builtinto the project.System Boundary277.The system boundary for the Project would be the Benguela Current Large MarineEcosystem and its bordering countries. The BCLME covers the continental shelf between theAngola-Benguela frontal zone in Northern/Southern Angola and the Agulhas retroflectionarea, typically between 36 and 37 degrees south). It therefore covers the west coast of SouthAfrica, the entire Namibian coast, and Southern Angola depending on the position of theAngola-Benguela front, which moves seasonally between 14 and 17 degrees south. TheProject therefore includes the sovereign states of Angola, Namibia and South Africa.87
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PART II:Logical Framework AnalysisN.B.1: The Baseline Column captures achievements and progress already made through the initial BCLME ProgrammeN.B.2: Risks and Assumptions are elaborated further in the Main Text under the appropriate heading (Project Indicators, Risks and Assumptions)PROJECT STRATEGYOBJECTIVELY VERIFIABLE INDICATORS AND CONDITIONAL FACTORSGOALTo halt the marked depletion of fisheries within one of the most productive yet highly environmentally variable oceanic areas in the world. This will be achieved through adoption of a more appropriate ecosystem approach to fisheries management that includes transboundary cooperation in order to mitigate the overall degradation of the LME and its living marine resources and to build in adaptive buffers to variability (both natural and anthropogenic in nature) INDICATORBASELINETARGETSOURCES OFVERIFICATIONRISKS ANDASSUMPTIONSObjective of the Project: the implementation of a Strategic Action Plan that builds on a foundation of scientific and technical studies and evolving partnerships, and usesthese to inform policy, legislative andmanagement decisions at the regional and national level.
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