Subsidizing the Decline in Ocean Health

Episode 58

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Subsidizing the Decline in Ocean Health

Homeownership is the largest source of wealth for most American families, and obtaining a safe, traditional 15-to-30-year mortgage is a key step toward achieving financial security. But outdated housing policies and financial regulations have made small mortgages—those for homes priced under $150,000—expensive for lenders and unavailable for millions of qualified and creditworthy borrowers, especially Black, Hispanic, and Indigenous households and those in rural communities. With limited access to small mortgages, many of these families turn to alternative financing arrangements, which often involve financial risks and lack many of the protections traditional mortgages offer.

Stat: 93. The Food and Agriculture Organization of the U.N. estimates 93 percent of marine fisheries worldwide are fished at or beyond sustainable catch levels.

Story: A large part of overfishing is driven by subsidies—most of which go to large-scale fishing fleets from industrialized nations. We learn about how subsidies can alter the economics of fishing from Pew’s Isabel Jarrett and researcher Rashid Sumaila. And we travel to Senegal to hear from local fishers on the impact to their communities.

Related resources:

The State of World Fisheries and Aquaculture 2018 

Fishing Subsidies Are Speeding the Decline of Ocean Health

How Fishing Subsidies Hurt the Ocean—and Us, Too

Ending Harmful Fisheries Subsidies Could Reverse Decline in Fish Stocks 

Talks Begin on WTO Treaty to End Harmful Fisheries Subsidies 

Scientist Sees Harmful Fisheries Subsidies Taking Toll on Global Fish Stocks

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