[SDG Target 14.4] By 2020, effectively regulate harvesting and end overfishing, illegal, unreported and unregulated (IUU) fishing and destructive fishing practices... more
[SDG Target 14.6] By 2020, prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, and eliminate subsidies that contribute to IUU fishing... more
Fisheries and aquaculture contribute US$100 billion per year and about 260 million jobs to the global economy (UNDP, 2012). Women comprise 47 percent of the total workforce dependent on commercial capture fisheries for their livelihoods, including the post-harvest sector (World Bank, 2012).
Global wild fish catch has been flat at around 80-85 million metric tonnes per year since the late 1980’s; the additional global demand since then has largely been made up by the rapid growth in aquaculture which now supplies about half of annual global consumption of fish protein.
About 30% of global fish stocks are considered overexploited, 60% fully exploited, and only 10% underexploited (FAO, 2010). 20% of fish stocks are subject to illegal, unreported and unregulated (IUU) fishing, valued at $23 billion per year. Destructive fisheries subsidies that support unsustainable practices, total about $16 billion per year. World Bank/FAO estimate that the economic loss due to overfishing is now $83 billion per year (World Bank, 2017).
On 15 July, the World Trade Organization (WTO) held a ministerial meeting on fisheries subsidies, which confirmed the commitment to set the course for a successful outcome on negotiations before the WTO’s Ministerial Conference starting in November 2021.
WTO members edged closer today (15 July) to an agreement which would set new rules for the global fisheries industry and limit government subsidies contributing to unsustainable fishing and the depletion of global fish stocks.
The President of the United Nations General Assembly (UNGA), Volkan Bozkır, convened this one-day High-level Event on the Ocean, four years after the 2017 UN Ocean Conference, to drum up momentum by enabling a review of progress and actions required in the lead up to the Second UN Ocean Conference to conven in Lisbon, Portugal, in 2022.