Palau Shark Haven Act
An estimated 73 million sharks are hunted every year. Palau has taken a global lead in shark protection by declaring its territorial waters a sanctuary for all shark species. Fishing for sharks has been banned, and any sharks caught in fisheries' nets must be released unharmed. Palau has also recognised the economic benefits of protecting sharks: the shark diving industry contributes US$1.2 million in salaries to local communities and generates US$1.5 million in taxes for the government annually. Other countries, including Honduras, the Maldives and the Bahamas have followed the example of Palau and banned shark fishing in their national waters.
What makes it bright?
- Definitively bans harmful practices
- Promotes ecotourism opportunities and strengthens local economies
PHOTO: Tony Baskeyfield