Fishing subsidies increase the risk of overfishing

Nearly two-thirds of global fishing subsidies pose the risk of promoting overfishing and illegal fishing practices. This is highlighted in the latest OECD Review of Fisheries, presented on 19 February in the presence of OECD Secretary-General Ambassador Olivier Puivre d’Arvoir and Angela Ellard from the World Trade Organization (WTO). According to the report, more targeted government support is crucial to strengthen the sector’s resilience and productivity.

Subsidies perpetuate overfishing

Between 2020 and 2022, the global fisheries sector received an average of 10.7 billion dollars in annual support. A striking 65% of these funds may contribute to overfishing and illegal fishing, especially where fishery management is lacking. Six countries account for 85% of this support: China (36.1%), Japan (12.4%), the US (11%), Canada (10.7%), EU member states combined (8%), and Brazil (6.4%). The OECD stresses that effective fish stock management is vital for food security, the livelihoods of millions, and global environmental conservation.

From fuel subsidies to sustainable initiatives

The organization calls for a shift in how subsidies are allocated. Instead of funding fuel, new vessels, and operations, resources should be redirected towards activities that strengthen the sector’s sustainability. This includes research into fish stock status, enforcement of fishing regulations, and targeted income support for fishers affected by crises such as marine heatwaves.

A growing sector with global impact

Since 2005, the value of the global fisheries and aquaculture sector has nearly tripled, reaching 381 billion dollars in 2022. This growth highlights the sector’s economic importance and the need for effective management to keep fish stocks healthy and productive for future generations.

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