The world’s oceans are a vital resource for all of us, providing food, livelihoods, and ecosystem services. However, the health of our oceans and the fisheries they support is under threat from a range of human activities, including overfishing, habitat destruction, and pollution.
One of the most significant drivers of overfishing is the use of harmful fisheries subsidies, which are estimated to be worth tens of billions of dollars globally.
A recent study has quantified the number of harmful fisheries subsidies that support fishing in the high seas, domestic and foreign waters. The study found that between 20 and 37 per cent of these subsidies supported fishing in waters outside the jurisdictions of their home nation.
Further, these subsidies primarily originated from developed nations, yet disproportionately impacted developing countries, leading to environmental and societal impacts around the globe.
These subsidies have a range of harmful effects.
First and foremost, they create economic incentives for fishing vessels to continue fishing, even when fish stocks are in decline. This leads to a situation where more and more vessels are chasing fewer and fewer fish, creating a vicious cycle that can lead to the collapse of entire fish stocks.
Furthermore, the environmental and societal impacts of these subsidies are felt far beyond the waters in which fishing is taking place. Overfishing can have knock-on effects on the entire marine ecosystem, affecting everything from coral reefs to seabird populations.
Also, the resource depletion and economic strain caused by overfishing can impact local communities and lead to social instability, making it even harder for vulnerable populations to adapt to the impacts of climate change.
Harmful fisheries subsidies have far-reaching consequences that affect both the marine ecosystem and society as a whole. It is clear that action is needed to curb these subsidies and move towards a more sustainable approach to fisheries management.
Governments must work together to phase out harmful subsidies and redirect funding towards measures that promote sustainable fishing practices and safeguard the future of our oceans. It is time for us to take action to protect our oceans and the valuable resources they provide.
Edited by Zeng Han-Jun
Written by Juliana Rodriguez
Terra Link Research 