Evaluation Metrics
Our team identified three areas that we believe a successful fishery recovery intervention would address. Our strategies were developed with these metrics in mind. Each strategy varies in its ability to address our three areas of interest.
Metric 1. Environmental.
Recovery of the stock is the key environmental outcome our strategies aim to address. We use biomass recovery relative to biomass (B) at maximum sustainable yield (MSY), as an indicator of stock health. Our strategies aim to restore the Chilean common hake to a level of B/Bmsy = 1.
Recovery of the stock is the key environmental outcome our strategies aim to address. We use biomass recovery relative to biomass (B) at maximum sustainable yield (MSY), as an indicator of stock health. Our strategies aim to restore the Chilean common hake to a level of B/Bmsy = 1.
Metric 2. Socioeconomic.
The well-being of the fishers in the hake fishery is important to our team and is important when considering the social justice implications of intervening in the fishery. Our strategies aim to minimize the impact that increased enforcement will have on some artisanal fishers, by providing economic incentives that would reduce unreported fishing. We seek to measure the socioeconomic impact of our strategies on the fishers by evaluating the percentage change in artisanal income (as measured using net present value of the fleet). The goal to to ensure the percentage change in artisanal NPV is greater than 0%, relative to a scenario of increased enforcement.
The well-being of the fishers in the hake fishery is important to our team and is important when considering the social justice implications of intervening in the fishery. Our strategies aim to minimize the impact that increased enforcement will have on some artisanal fishers, by providing economic incentives that would reduce unreported fishing. We seek to measure the socioeconomic impact of our strategies on the fishers by evaluating the percentage change in artisanal income (as measured using net present value of the fleet). The goal to to ensure the percentage change in artisanal NPV is greater than 0%, relative to a scenario of increased enforcement.
Metric 3. Financial.
Impact investors are willing to forego some, but not all, potential earnings when investing in projects with social and environmental goals. Because of this we need to ensure the investment will still be profitable to the investor. To measure this, we are evaluating the impacts of our strategies on the internal rates of return (IRR). We are aiming to achieve over 5% IRR.
Impact investors are willing to forego some, but not all, potential earnings when investing in projects with social and environmental goals. Because of this we need to ensure the investment will still be profitable to the investor. To measure this, we are evaluating the impacts of our strategies on the internal rates of return (IRR). We are aiming to achieve over 5% IRR.