World Bank together with Pacific governments, regional organizations and communities are working together to improve ocean management across the Pacific. Through the Pacific Islands Regiona
Sustainable fisheries
[SDG Target 14.4] By 2020, effectively regulate harvesting and end overfishing, illegal, unreported and unregulated (IUU) fishing and destructive fishing practices... more
[SDG Target 14.6] By 2020, prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, and eliminate subsidies that contribute to IUU fishing... more
Definition
Fisheries and aquaculture contribute US$100 billion per year and about 260 million jobs to the global economy (UNDP, 2012). Women comprise 47 percent of the total workforce dependent on commercial capture fisheries for their livelihoods, including the post-harvest sector (World Bank, 2012).
Global wild fish catch has been flat at around 80-85 million metric tonnes per year since the late 1980’s; the additional global demand since then has largely been made up by the rapid growth in aquaculture which now supplies about half of annual global consumption of fish protein.
About 30% of global fish stocks are considered overexploited, 60% fully exploited, and only 10% underexploited (FAO, 2010). 20% of fish stocks are subject to illegal, unreported and unregulated (IUU) fishing, valued at $23 billion per year. Destructive fisheries subsidies that support unsustainable practices, total about $16 billion per year. World Bank/FAO estimate that the economic loss due to overfishing is now $83 billion per year (World Bank, 2017).
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