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Sustainability can mean different things to different people. Some may view sustainable fishing to be catching very little in order for fish populations to return to their historical levels (represented by the upper left green area), while others consider sustainability to be the maximum amount of fish we can catch without depleting stocks any further (red dot).
The World Wildlife Fund and the Zoological Society of London jointly issued their "Living Blue Planet Report" on 16 September 2015 which states that there was a dramatic fall of 74% in world-wide stocks of the important scombridae fish such as mackerel, tuna and bonitos between 1970 and 2010, and the global overall "population sizes of mammals ...
The Foundation publishes a yearly report called The Status of the World Fisheries for Tuna, [11] which compiles the most recent science to determine the health of the 19 tuna stocks which support commercial fishing. The most recently updated version of the assessment was released in December 2012.
The World Development Report 2010 – Development and Climate Change, Chapter 3 [53] shows that reducing overcapacity in fishing fleets and rebuilding fish stocks can both improve resilience to climate change and increase economic returns from marine capture fisheries by US$50 billion per year, while also reducing GHG emissions by fishing fleets.
This means that decisions about stock management can also be made by the people doing the harvesting. [1] The best practice is to standardise the effort employed (e.g. number of traps or duration of searching), which controls for the reduction in catch size that often results from subsequent efforts. [2]
The concept of maximum sustainable yield (MSY) has been used in fisheries science and fisheries management for more than a century. Originally developed and popularized by Fedor Baranov early in the 1900s as the "theory of fishing," it is often credited with laying the foundation for the modern understanding of the population dynamics of fisheries. [1]
A report by Prince Charles' International Sustainability Unit, the New York-based Environmental Defense Fund and 50in10 published in July 2014 estimated global fisheries were adding $270 billion a year to global GDP, but by full implementation of sustainable fishing, that figure could rise by an extra amount of as much as $50 billion. [55]
The Sunken Billions is a study jointly published in 2008 by the World Bank and by the Food and Agriculture Organization of the United Nations (FAO). The report shows that the difference between the potential and actual net economic benefits from marine fisheries is about USD 50 billion per year or some USD 2 trillion over the last three decades.