SYDNEY // Climate change is reducing the supply of popular types of Australian seafood and threatening a multi-billion dollar industry, according to a new government report.
Rising sea temperatures could affect Australia's commercial fishing and fish-farming enterprises that employ thousands of people and generate more than $2 billion Australian (Dh4.6bn) a year.
A study by Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) said the seafood industry was facing radical changes in the midst of a shifting climate as ecosystems were destabilised and marine species dislocated.
Significant adjustments have been recorded in the East Australian Current that moves warm water down the continent's eastern seaboard.
"We found over the last probably 50 years the waters off the east coast of Australia have warmed and they've warmed quite substantially," said Richard Matear, a CSIRO researcher.
"That warming is related to how the East Australia Current is moving farther down the coast. We're finding that the ecosystems we'd find, say, off Sydney are slowly moving south and we'd expect by the end of this century that they may have migrated 500 to 1,000 kilometres."
One barometer of this environmental shift is the sea urchin, a spiny creature that, tempted by warmer conditions, has gradually drifted south. It feasts on algae and kelp, a type of large seaweed, and its colonisation of waters off the island state of Tasmania is causing alarm.
"One of the things we've found in Tasmania over the last decade or two is we've been finding these sea urchins have been moving down the coast and they have actually caused quite a bit of damage to the kelp pits. There is concern that the damage will impact on fisheries like rock lobster and abalone fishing in Tasmania," Mr Matear said.
The spectre of climate change is also menacing the seafood industry on the other side of the continent.
Nick Caputi, a supervising scientist at the Department of Fisheries in Western Australia, has reported a sharp fall in the number of juvenile western rock lobsters or crayfish, another popular delicacy.
"We're certainly noticing some change in environmental conditions, such as more frequent El Nino events which affects a warm current that flows down the west coast of Western Australia and has a significant impact on the lobster stocks."
El Nino is a warming of seawater in the eastern Pacific Ocean and is associated with droughts and floods in other parts of the world. Some experts have insisted that global warming will intensify these climatic extremes, but Mr Caputi is keeping an open mind on what might be behind the dwindling numbers of Western Australia's rock lobsters.
"Climate change is one of the things we're looking at," he said. "But I certainly wouldn't rule out other factors at this stage."
What is beyond dispute is the financial harm that will be inflicted on Western Australia's lobster fishermen and their $250 million business if stocks continue to be depleted.
The Australian government has made tackling the effects of a warming planet a priority and believes that man's excess and a reliance on fossil fuels must be addressed.
"We know there will be an impact," Penny Wong, the climate change minister, told a press conference in Canberra. "The question is first how much climate change can we avoid through reducing our carbon dioxide emissions and other greenhouse gases? The second thing we have to do is to adapt to the climate change we can't avoid."
Experts say that to adjust to a new environmental reality, fishermen may have to relocate to save their livelihoods as warmer waters push their catch further south.
Mr Matear said it was an approach that must be considered. "It would be a big change but it is not an impossible task and perhaps there are opportunities as new fisheries open up in new regions as these ecosystems move."
It is a plan that has been met with incredulity among trawler crews on the idyllic Hawkesbury River near Sydney.
Rolf Norington has for 25 years fished for prawns and squid in the bountiful estuarine waters and said the idea that fishermen should move does not make sense. "Neither is it logical, it is just not possible because we all operate in restrictive fisheries. The regulation of our fisheries means if you want to move your business elsewhere you have to purchase another business and start all over again."
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Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
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- Kirill Shamalov, Russia's youngest billionaire and previously married to Putin's daughter Katarina
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Killing of Qassem Suleimani