Fisheries Subsidies at a Crossroads

This policy brief by the International Institute for Sustainable Development analyzes the critical state of World Trade Organization (WTO) fisheries subsidies negotiations ahead of the 14th Ministerial Conference (MC14). It highlights the need to move beyond the 2022 Agreement (Fish 1) to establish additional disciplines (Fish 2) targeting overcapacity and overfishing before a sunset clause triggers the termination of the original agreement in September 2029.

• The 2022 Agreement on Fisheries Subsidies (Fish 1), which entered into force in September 2025, was the first WTO agreement focused on environmental sustainability and prohibits subsidies for illegal, unreported, and unregulated fishing, as well as subsidies for fishing overfished stocks without rebuilding measures or unregulated fishing on the high seas.
• Current global fisheries subsidies are heavily skewed toward industrial operations; of the USD 35.4 billion provided in 2018, over 80% went to large-scale industrial fleets, while small-scale fisheries received only 19%.
• Negotiations for 'Fish 2' aim to create preventive rules against subsidies that drive overcapacity and overfishing generally, rather than just in extreme cases. Despite coming close to consensus at MC13 in Abu Dhabi, adoption has been blocked by a small number of large players, including one developed and two developing members calling for text changes by mid-2025.
• A 'sunset clause' in the 2022 Agreement mandates that if comprehensive additional disciplines are not adopted within four years of its entry into force, the entire agreement will automatically terminate. With entry into force occurring in September 2025, the deadline for conclusion is September 2029.

APA

Sarmiento, F. (2026). Fisheries Subsidies at a Crossroads. International Institute for Sustainable Development. https://www.iisd.org/articles/policy-analysis/fisheries-subsidies-mc14

Chicago

Sarmiento, Florencia. Fisheries Subsidies at a Crossroads. International Institute for Sustainable Development, 2026. https://www.iisd.org/articles/policy-analysis/fisheries-subsidies-mc14.

Wikipedia

{{cite report |last1=Sarmiento |first1=Florencia |title=Fisheries Subsidies at a Crossroads |publisher=International Institute for Sustainable Development |date=18 February 2026 |url=https://www.iisd.org/articles/policy-analysis/fisheries-subsidies-mc14 |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{sarmiento2026fisheries, author = {Sarmiento, Florencia}, title = {{Fisheries Subsidies at a Crossroads}}, institution = {International Institute for Sustainable Development}, year = {2026}, month = feb, url = {https://www.iisd.org/articles/policy-analysis/fisheries-subsidies-mc14}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }