March 6, 2024 — Ambitions to finalize a two-part treaty to equitably stop governments from funding overfishing were dashed again at the World Trade Organization’s 13th ministerial conference in Abu Dhabi, which ended in the early hours of March 2.
“This outcome is not just disappointing; it’s a dire blow to global marine biodiversity,” Daniel Skerritt, a senior analyst at U.S.-based conservation NGO Oceana, said in a statement. “The WTO’s continued failure to prohibit subsidy-driven overcapacity and overfishing jeopardizes the lives of millions of people who depend on healthy fish populations for their livelihoods and food security.”
Governments around the world pump an estimated $22 billion annually into so-called “harmful” fisheries subsidies, blamed for depletion of global fish stocks and distorted market dynamics. WTO member states have been trying to negotiate a deal to end them for 22 years.