Overfishing
Systemic overfishing is only made worse by illegal catches and trade. In fact, some of the worst ocean impacts are caused by pervasive illegal fishing, which is estimated at up to 30% of catch or more for high-value species. Experts estimate illegal, unreported, and unregulated (IUU) fishing nets criminals up to $36.4 billion each year. These illegal catches move through opaque supply chains due to a lack of systems to track fish from catch to consumer—something called traceability—and import controls in much of the sector.
Subsidies
Subsidies, or support provided to the fishing industry to offset the costs of doing business, are another key driver of overfishing. Subsidies can lead to overcapacity of fishing vessels and skewing of production costs so that fishing operations continue when they would otherwise not make economic sense. Today’s worldwide fishing fleet is estimated to be up to two-and-a-half times the capacity needed to catch what we actually need. The United Nations 2030 Agenda for Sustainable Development has called for an end to harmful subsidies.
Overcapacity
Some 4 million fishing vessels of all sizes now ply the oceans, many with increasing capacity and efficiencies to catch more fish. As pressure from fishing grows, the likelihood of damage to the structure and function of the ocean ecosystem increases. Inadequate government capacity and cooperation to manage, regulate, and control fisheries and fisheries trade, especially in developing nations and on the high seas, are key factors contributing to the current problems in oceanic fisheries.
