Abstract

This abstract provides a concise overview of the intricate dynamics surrounding fishery subsidies, focusing on their dual impacts on both the environment and social fabric. The environmental consequences encompass overfishing, depletion of marine resources, ecosystem disruption, and the carbon footprint associated with certain subsidies. Socially, the distribution of subsidies introduces inequities, favoring large industrial fleets over smaller fishers and impacting the livelihoods and food security of coastal communities. While income support subsidies aim to mitigate challenges, their effectiveness varies. Global initiatives, particularly within the World Trade Organization (WTO), are underway to address these issues, seeking binding rules that eliminate harmful subsidies while considering the unique needs of developing countries. This abstract emphasizes the urgent need for a holistic and collaborative approach to strike a delicate balance between economic interests and the preservation of marine ecosystems and coastal livelihoods.