TEXT OF STORY
Scott Jagow: I know some people take issue with this conclusion, but a report out this morning says fishing around the world is maxed out. The report comes from the environmental group Oceana. Several developing countries have a big problem with this situation. From our Sustainability Desk, Sam Eaton reports.
Sam Eaton: The report finds 85 percent of the world’s fisheries is either fished to capacity or facing collapse. But as the World Trade Organization moves to eliminate subsidies to expand fishing fleets, China, India and Indonesia want an exemption. They argue they should be able grow their fleets through subsidies just as the industrialized world did.
Mike Hirshfield is Oceana’s chief scientist:
Mike Hirshfield: It would be one thing if there were still more fish out there waiting to be caught. But as our study shows, there really is no room for expansion.
Hirshfield says subsidized fishing is largely to blame. Subsidies now account for about a quarter of the value of every fish caught.
He says eliminating the estimated $20 billion in fishing subsidies would make global fishing sustainable. It would also insure countries like China and India have fish to catch as they develop fleets of their own.
I’m Sam Eaton for Marketplace.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
Cheers to trustworthy journalism!
Give just $7/month to get your own KaiPA glass.