In this blog post, we provide a rapid assessment of this development, after reflecting on the state of global fisheries and key facts about fisheries subsidies.
We then examine key provisions of the Agreement and how they relate to ongoing research at the One Ocean Hub. While our summary is not an exhaustive account of the Agreement on Fisheries Subsidies, we pay particular attention to its prohibition of subsidies to 1 illegal, unreported and unregulated fishing; 2 the fishing of overexploited stocks and 3 fisheries on the high seas outwith the control of regional fisheries management organisations.
We conclude by highlighting remaining issues still to be addressed at the WTO. The Food and Agriculture Organization of the United Nations FAO publishes a comprehensive biennial report on the state of world fisheries and aquaculture, with the latest edition due to be released at the end of June The only such report of its kind, this report paints an increasingly disturbing picture.
According to the report:. Figure 1. In , the underfished stocks accounted for 6. These high-level statistics paint a concerning picture. Overexploitation of global fish stocks poses a risk to the human rights to life, food, culture, health, and a healthy and sustainable environment. Moreover, since healthy marine fisheries are in themselves a climate mitigation and adaptation measure by maintaining a functional marine ecosystem, there is a need to ensure sustainable exploitation of fish stocks for climate security and justice.
Fisheries subsidies β financial help granted by countries to help the fishing industry meet costs such as fuel β are part of this concerning picture. While not all subsidies in the fisheries sector are bad, certain forms of subsidies may fund illegal, unreported and unregulated IUU fishing as well as encourage overcapacity, overfishing and other unsustainable fishing practices.
