Annual illegal fisheries subsidies provided by governments amount to $22 billion, leading to over-fishing due to excessive catches.
How are fishing subsidies behind the problems of overfishing?
The provision of funds (fisheries subsidies) for boats and fuel allows fishing boats to operate in remote water and for longer time periods. Just 10 countries are responsible for 64% of fish subsidies and thus, few decisions made in some states affect the conditions in coral reefs and fish stocks everywhere.
Is the world doing anything?
A 2025 agreement enacted by the World Trade Organization bans the provision of subsidies aimed at illegal fishing and fishing on the endangered stocks. However, these agreements do not cover all the issues in the industry.
What will happen next?
Countries still need to reduce subsidies aimed at overcapacity which is the aim of target 14.6. Directing public funding towards monitoring, enforcement as well as biodiversity protection will allow restoring aquatic resources and helping coastal communities.
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