The Meloy Fund's approach to impact
The Meloy Fund demonstrates a new paradigm for impact investing in a previously neglected sector – the coastal seas that houses the majority of marine biodiversity and supports millions of jobs for coastal communities. We invest in enterprises to achieve triple-bottom – for people, for nature, and for investors – derived by adopting ESGforward, responsible business practices. The Meloy Fund works hand-in-hand with our investees – and other community, NGO, and government partners – to realize this vision. Coastal fisheries, and the supply chains linked to them, are often disaggregated, inefficient, and sub-optimally managed. The Meloy Fund, in combination with our Technical Assistance Facility, sets out to address these deficiencies by connecting disparate dots and reforming supply chains, creating value that can be shared among fishers, businesses, and investors.
The Meloy Fund is an impact investment vehicle that will incentivize the development and adoption of sustainable fisheries by making debt and equity investments in fishing-related enterprises that support the recovery of coastal fisheries.
In addition to providing a reasonable financial return, the Fund’s Environmental and Social (E&S) impact goals are the following:
How we measure impact
The Meloy Fund has developed an innovative set of Environmental and Social (E&S) Guidelines, designed to ensure that for the Fund’s investees:
Clear minimum standards for sourcing sustainable fish, or otherwise participating in the fishing supply chain, are agreed upon and monitored;
General environmental and social minimums are met regarding the holistic impact of an investee’s operations;
Impact targets related to the use of the investment and expectations of growth over time are agreed upon, which in some cases may inform financial rewards or penalties; and
A comprehensive multi-stakeholder roadmap is produced and implemented to ensure fisheries recovery over time (via a Fishery Improvement Project or FIP).
Over its ten-year life, the Fund is projected to have a positive impact on the lives of 100,000 fisher household members, and place 1.2 million hectares of coastal habitats under improved management.
The 2021 Meloy Fund Annual Impact Report
The Meloy Fund’s Annual Impact Report provides an update on the Fund’s 2021 impact results, contains detailed examples of how we work hand-in-hand with our investees and other community, NGO, and government partners, and explains our evolving approach and progress made toward the sustainability for coastal fisheries and aquaculture.
Photo Credit: Tom Epperson
Impact committee members
Andreas is the former President of Ocean Conservancy, leading the organization’s efforts to tackle the ocean’s biggest challenges with science-based solutions. With a background in environmental science, resource economics and business, Andreas is particularly interested in determining the ocean’s rightful role in answering the central question of our time: how to meet the enormous resource demands of a rapidly growing global population without destroying the natural systems that sustain us.
Prof. Gaines served as director of the UC Santa Barbara (UCSB) Marine Science Institute, UCSB Acting Dean of Science and Acting Vice Chancellor for Research, and currently as a principal investigator for the Sustainable Fisheries Group. Prof. Gaines's research focuses on marine ecology and conservation, sustainable fisheries, the design of marine reserves, and the impact of climate change on ocean ecosystems.
Lida is a senior strategic conservation and fisheries management professional with practical, policy, technical and management skills. She is currently the leader of the Marine Unit at PT Hatfield Indonesia, an environmental consultancy. Lida has extensive experience in developing effective collaborative networks, capable motivated global teams and strategic partnerships with governments, the private sector, academia, and NGOs.
Founding CEO of New Island Capital, an investment company that invests globally on alternative energy, the environment and sustainable agriculture. Prior to that, Charles was a Managing Director of Terra Firma Capital Partners in London, Founder of Argus Capital LLC, Investment Committee Member of JP Morgan Capital Corporation, and Principal at Investcorp. Before entering the private equity field, Charles spent nine years at Goldman Sachs, last as the Head of the Real Estate Department’s Fixed Income Group.