While a huge demand for shark fins in Asia results in the slaughter of tens of millions of sharks annually, a new study finds that sharks are worth far more alive than dead for island nations like Palau. In Palau, where
more than half of tourists are drawn by diving excursions, each reef shark brings in about $179,000 in tourism revenue annually, or about $1.9 million during its lifetime, according to a study by the Australian Institute of Marine Sciences. By comparison, a single shark’s fin, sold for shark fin soup, fetches only about $108. Recognizing the economic value of sharks, Palau established a nationwide shark sanctuary in 2009. Since then, the state of Hawaii, the territories of Guam and the Northern Marianas, and the Republic of the Marshall Islands have banned possession or sale of shark fins. “Sharks are worth more alive than dead and we encourage other countries to follow Palau’s example,” said Matt Rand, director of Global Shark Conservation for the Pew Environment Group, which commissioned the study. Scientists say more than a third of the world’s 1,044 shark species are threatened with extinction because of shark finning.
Sharks Worth Far More Alive Than Dead, New Study Shows
More From E360
-
INTERVIEW
Marina Silva on Brazil’s Fight to Turn the Tide on Deforestation
-
Solutions
Solomon Islands Tribes Sell Carbon Credits, Not Their Trees
-
INTERVIEW
With Sea Turtles in Peril, a Call for New Strategies to Save Them
-
RIVERS
Jared Kushner Has Big Plans for Delta of Europe’s Last Wild River
-
Energy
A Nuclear Power Revival Is Sparking a Surge in Uranium Mining
-
OPINION
Despite Official Vote, the Evidence of the Anthropocene Is Clear
-
INTERVIEW
At 11,500 Feet, a ‘Climate Fast’ to Save the Melting Himalaya
-
Oceans
Octopuses Are Highly Intelligent. Should They Be Farmed for Food?
-
Climate
Nations Are Undercounting Emissions, Putting UN Goals at Risk
-
Solutions
As Carbon Air Capture Ramps Up, Major Hurdles Remain
-
ANALYSIS
How China Became the World’s Leader on Renewable Energy
-
Biodiversity
As Flooding Increases on the Mississippi, Forests Are Drowning