leaders signed up to a long list of sustainable development goals, among them an agreement to limit government subsidies that contribute to overfishing. Negotiators at the World Trade Organisation were told to finish the job “by 2020”. They have missed their deadline.
Overfishing is a tragedy of the commons, with individuals and countries motivated by short-term self-interest to over-consume a limited resource. By one measure, the share of fish stocks being fished unsustainably has risen from 10% in 1974 to 33% in 2015. Governments make things worse with an estimated $22bn of annual subsidies that increase capacity, including for gear, ice, fuel and boat-building.
Negotiators are trying to devise a system that would alert governments to offending boats, which would become ineligible for future subsidies. That is tangling them up in arguments about what to do when a boat is found in disputed territory, how to deal with frivolous accusations and how to treat boats that are not associated with any country offering subsidies.
When it comes to legal fishing of overfished stocks, it is easier to spot the subsidies in government budget lines, but no easier to agree on what to do about them. America and the European Union, for example, have been arguing over whether to allow subsidies up to a cap, or whether to ban some subsidies and take a lenient approach to the rest. Thefavours the second option, arguing that where fisheries are well-managed, subsidies are not harmful.
China, both the world’s biggest fisher and biggest subsidiser of fishing, has proposed capping subsidies in proportion to the number of people in each country who work in the industry. But it is the world leader here, too, with 10m at the last count . Other countries fear such a rule would constrain China too little.. Ms Tipping thinks this could be helpful, since the issue will not end up hostage to other, even more fraught, trade rows.
Very sad.
I'm not sure if you're joking but the trade deadline was for a fish stock that was already in use for a few years.
CatioMiles 😔 ‘just get on with it’ was all I heard. This is unprofessional and presents poorly for the economy. We are facing serious issues relating to trade from these people.
Be careful with de fish, it can swim back oooooo 🤔🤔🤔
La “Tragedia de los Comunes” o de las consecuencias de la ausencia o de la imposibilidad de asignar derechos de propiedad
Wtf are our governments doing!!
In the future, we may need 'beyond fish'?
ale ryba !
If ocean pH drops further due to higher CO2 concentrations then fishing at all will be a moot point. The only real issues today are stopping/ minimizing combustion. It’s that simple. Add to that the planting of billion of long lived carbon sequestering trees.
Have to say that fish is sold in deceptively small cans*... *tuna
All the fish will be gone in 2050 capitalism consume the world
Just like gun laws will only benefit the bad guys
subsidize
Back to you in the studio, Chris
Guess it's a race between all the plastic infesting the ocean or over fishing.
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Source: CNBC - 🏆 12. / 72 Read more »