Dwindling returns

fleets must shrink. But this needs to be set against a rise in catches, an overall climb in incomes for coastal communities and companies, improvements in the health of the marine environment and ultimately hundreds of millions of people whose incomes and livelihoods are linked to fishing, " he said. The report estimates that there are currently 35 million people fishing for a livelihood and more than 20 million boats engaged in fishing. It also estimates that fishing directly and indirectly supports 170 million jobs and generates $35 billion for fishing households each year. It is estimated that, with the inclusion of processing jobs and the consideration that one fisherman has three dependants, then about 520 million people or eight per cent of the global population are supported by fisheries. But this livelihood is imperilled. " Mismanagement, lack of enforcement and subsidies totalling over $27 billion annually have left close to 30 per cent of fish stocks classed as 'collapsed' — in other words yielding less than 10 per cent of their former potential, " the report says. Only around 25 per cent of commercial stocks — mostly low-priced species — are considered to be in a healthy or reasonably healthy state, the report warns. It estimates that, of the $27 billion of subsidies given to fisheries, only around $8 billion can be classified as 'good' with the rest classed as 'bad' and 'ugly', as they contribute to over-exploitation of stocks. The report concludes that a reduction in the global fishing activity to a 'maxible sustainable yield' is required because current capacity is 1.8 to 2.8 times what is sustainable. " These reductions could be achieved through careful targeting of the most ecologically damaging surplus capacity, so that of the estimated 20 million vessels and 35 million fishers deployed in this sector, the livelihoods of those that are artisanal and poor are treated equitably. " The estimated cost is high. Investment of $220–320 billion worldwide is required and equal to $8 billion per year. But, the report argues, this would raise the income of fishing households, increase profits, and ultimately, increase the total annual catch. In spite of the high technology incorporated in many modern fishing fleets helping them to find fish, dwindling stocks mean that modern UK vessels must work 17 times harder for the same catch as their sail-powered Victorian counterparts, a new study claims. Records of fish …