Pacific salmon swimming up a waterfall at the Denali National Park in Alaska, USA. Alamy
Pacific salmon swimming up a waterfall at the Denali National Park in Alaska, USA. Alamy
Pacific salmon swimming up a waterfall at the Denali National Park in Alaska, USA. Alamy
Pacific salmon swimming up a waterfall at the Denali National Park in Alaska, USA. Alamy

Melting glaciers could open up new salmon breeding grounds


Paul Peachey
  • English
  • Arabic

The melting of glaciers through climate change could create new spawning grounds for Pacific salmon and allow new fisheries to develop in previously ice-locked areas over the next century.

Researchers believe that the retreat of the glaciers by the year 2100 in North America could open up 6,000 kilometres of new streams to salmon, with a third of the area suitable for spawning and rearing young.

A study in the journal Nature Communications suggests millions more young salmon will be born if the population is not hit by other impacts of climate change, such as rising waters and flooding. Warming waters are putting existing salmon populations at stress, the study found.

Global warming in Arctic regions is a threat to polar bears and other creatures that rely on sea ice, but salmon could thrive under the changing conditions.

The study, by researchers from Canada, Switzerland, the UK and US, examined an area of more than 623,000 sq km to identify potential new streams as the ice melts. In the decade to 2016, glaciers in western Canada lost an average of one per cent of their ice mass annually and in some regions are projected to lose up to 80 per cent by 2100.

The study said while “warming freshwater is reducing salmon habitat quality in parts of their range, glacier retreat is creating new streams and lakes that salmon can colonise”.

The impact of the changes could lead to the creation of new commercial fisheries to join the multi-billion-dollar industry. Researchers said the melting of glaciers over the last century in the Kenai Peninsula of Alaska had already allowed sockeye salmon populations to establish, leading to the opening of a commercial fishery.

However, the authors said mineral claims had already been staked in regions currently covered in ice. Mines that have been approved in previously frozen areas could threaten the salmon by affecting local water quality.

“Effective protection of Pacific salmon will entail conserving not just their current habitat, but also avoiding the degradation of their future habitat,” the study said.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Favourite place in UAE: Al Rams pearling village

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Updated: December 07, 2021, 4:00 PM