Advancing SDG 5: Unveiling The Hidden Nets ' The Case For Financing Fisherwomen

• Published date: 26 March 2024
• Subject Matter: Strategy, Transport, Marine/ Shipping, Economic Analysis
• Law Firm: Anggraeni and Partners
• Author: Ms Setyawati Fitrianggraeni, Muhammad Souri Cahya Gemilang and Sri Purnama

INTRODUCTION

At the recent Third United Nations Trade Forum in 2023, the UNCTAD Secretary-General Pedro Manuel Moreno said, "Now is the time to set a new course by investing more in building a sustainable ocean economy."¹ His words underscore a burgeoning global economic shift that is gaining prominence. Moving beyond the widely recognized green economy, the blue economy paradigm seeks to transform the ocean-based economy into a more egalitarian platform, leveraging the full potential of the marine resources whilst conserving the marine ecosystem.² Sustainable financing is crucial in this endeavor. One of the evidence can be seen in the data for philanthropic and official development aid of the last 10 years where only USD 13 billion invested in the ocean-based economy from 2010 to 2020 in the overall USD 15 trillion that had been poured for development.³ The impact of climate change on the ocean could cost an additional $322 billion a year by 2050 if we fail to mitigate the effects of global warming whereas the ocean economy is projected to increase to $3 trillion by 2030.⁴ To bridge this gap, more blended finance is essential to tap potential resources and anticipate future marine disasters.

Aiming for blue growth, the Indonesian government has established priority sectors and financial schemes to support its blue economic targets. The Indonesian Blue Economy Roadmap has laid out eight priority sectors, with marine captured fisheries standing out.⁵ In financing, the government is actively inviting private sectors to fund projects through diverse financing mechanisms.⁶ To ensure a safer investment climate, blended finance is emphasized, using public funds to de-risk investments for the private sector. The Ministry of Marine Affairs and Fisheries of the Republic of Indonesia collaborates with the Ministry of State-Owned Enterprises of the Republic of Indonesia to implement five blue economy programs, which include expanding the target areas for marine conservation, implementing a policy of measured fish capture based on quotas, developing environmentally friendly aquaculture, sustainable coastal and small island management, and addressing plastic waste in the sea through the Love the Sea Month Program.⁷ The Indonesian government had opened ample opportunities for greater private involvement in the blue economy.

Consistent with SDGs Goal 5 which champions gender equality, the Indonesian government also prioritized inclusivity in the blue economy. Rather than simply focusing on quantitative growth, the Roadmap articulates the pressing need to integrate inclusivity into its development strategy. A poignant example is the marine captured fisheries sector, a male-dominated field. To tackle this challenge, the roadmap targeted greater inclusion of women in the fisheries sector.⁸ As a shared responsibility, the blue economy beckons the private sector to champion inclusivity, specifically by investing in women in the fishery industry. This goes beyond mere ESG commitments; financing women in the fishery sector emerges as a strategic move that can deliver better profits for all stakeholders.

THE VEILED NETS: WOMEN IN FISHERY INDUSTRY

We define fisherwomen as women who partake in the fishery sector both upstream (catching fish, harvesting aquafarms, etc.) and downstream (selling fish, processing fish products, etc.).⁹ We departed from the common Indonesian definition of "nelayan" (fishermen) which was highly gendered and only focus on captured fisheries to fisherfolk which refers to more gender-neutral terminology for people in the fishery sector. Using an expanded definition advocated by fisherwomen's collective, we can better provide evidence for fisherwomen's contribution and to recognize it through this writing.

According to UN Women, women constitute 12.2 million or 37% of Indonesia's fisheries sector workforce.¹⁰...