90 countries sign up to help end "harmful" fishing subsidies


A "roadmap" to help end over-fishing caused by too many government subsidies, was endorsed by 90 countries meeting on Thursday at the annual meeting of the UN Conference on Trade and Development, UNCTAD.

Global fishing subsidies are estimated to be around US$35 billion, of which US$20 billion contributes directly to overfishing, according to UN data.

Meanwhile, fish stocks are in deep decline, with a 20 per cent drop in sustainable levels over the past 40 years.

UNCTAD Secretary-General Mukhisa Kituyi said that getting the 90 countries to sign up showed the need for the initiative "in building consensus for meaningful change."

The roadmap calls on countries to be transparent about what subsidies they are providing and introduce new policies to prevent over-fishing, illegal fishing, and any further harmful subsidies.


SOURCE: Matthew Wells, United Nations.