Fisheries 5 Conclusions

Our analysis confirms that global marine fisheries are underperforming both in economic and social terms. Greening the fisheries sector by rebuilding depleted stocks and implementing effective management could increase the overall marine fisheries catch, and raise the economic contribution of ocean fish populations to the global economy.

While important efforts have been made in national fisheries administrations around the world, and through regional fishery management organisations, more is needed to enhance the management of the resources in a green economy context.

In order to achieve sustainable levels of fishing from an economic, ecological and social point of view, a serious reduction in current excessive capacity is required. Given the wide difference in the catching power, the job creation potential, and the livelihood implications of large- scale versus small-scale fishing vessels, it appears that a reduction effort focused on large-scale vessels could reduce overcapacity at lower socio-economic costs to society.

This chapter demonstrates that greening the fisheries sector would cost billions of dollars. However, the gains

from greening would more than pay for the investments. Most of the cost involves helping the fisheries sector adjust to lower fishing capacity, which is a prerequisite for greening the fisheries sector and keeping it economically viable over the long-term.

The contribution revealed that there are successful experiences with mechanisms to manage the transition and adjustment within the fishing industry, through vessel buyback programmes, compensation, provision of social security and retraining programmes for fishers, to learn from and build upon.

More investment is required to improve fisheries management in most parts of the world. This would enable a more effective implementation of all management tools that have proven to be effective, including stock assessments, monitoring and controlling programs, transferable and non-transferable quota systems, and expanding marine protected areas. In addition, strengthening

fishery institutions both in national

administrations and regional fishery management organisations would allow a more effective governance and management of resources within and outside nations’ Exclusive Economic Zones.

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