Fisheries subsidy
A fisheries subsidy is a government action that confers an advantage on consumers or extractors of fish in order to supplement their income or lower their cost. Fisheries subsidy are addressed in sustainable development goal 14 where target 14.6 works on prohibiting subsidies contributing to overcapacity and over fishing, unreported and unregulated fishing and refrain from new such subsidies.
Extent
The estimates on the global amounts of fisheries subsidies vary and range from US$15–35 billion annually. The range of estimates is partially due to fact that fisheries subsidies come in many shapes and forms. Fisheries subsidies include direct transfers of funds, income or price support measures, tax credits, exemptions and rebates, low-interest loans and guarantees, preferential treatment and use of regulatory support mechanisms. Not all estimates include government funding for fisheries management, such data collection and control and enforcement, or the possible absence of access fees.An open letter by scientists found that as of 2021 harmful fisheries subsidies have increased globally and asks the WTO to eliminate such subsidies. It did so in 2022, ordering countries to end subsidies for illegal, unreported and unregulated fishing; fishing in international waters; or fishing of overfished stocks.