The Sunken Billions

The Sunken Billions: The Economic Justification for Fisheries Reform

Author	Ragnar Arnason, Kieran Kelleher and Rolf Willmann
Language	English
Subject	World fisheries
Publisher	Joint publication by the World Bank and the FAO
Publication date	2008
Media type	Print
ISBN	978-0-8213-7790-1
OCLC	297146442
Dewey Decimal	338.3/727 22
LC Class	SH328 .S79 2009

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.

According to the report, "by improving governance of marine fisheries, society could capture a substantial part of this $50 billion annual economic loss. Through comprehensive reform, the fisheries sector could become a basis for economic growth and the creation of alternative livelihoods in many countries. At the same time, a nation's natural capital in the form of fish stocks could be greatly increased and the negative impacts of the fisheries on the marine environment reduced."

If fish stock were rebuilt, the current marine catch could be achieved with approximately half of the current global fishing effort. This illustrates the massive overcapacity of the global fleet. The excess competition over the limited fish resources results in declining productivity, economic inefficiency, and depressed fisher incomes.

A 2017 update of the report found that the difference between potential and actual economic benefits from global fisheries had grown to USD 83 billion per year.

References

Arnason R, Kelleher K and Willmann R (2008) The Sunken Billions: The Economic Justification for Fisheries Reform. Joint publication of the World Bank and the FAO. ISBN 978-0-8213-7790-1.
FAO Code of Conduct for Responsible Fisheries

External links

Fishery science topics

Fisheries science and wild fisheries

Fisheries science	Population dynamics of fisheries Shifting baseline Fish stock Fish mortality Condition index Stock assessment Fish measurement Standard weight in fish Fish counter Data storage tag Catch per unit effort Otolith microchemical analysis Biomass Fisheries acoustics Acoustic tag Coded wire tag GIS and aquatic science Pop-up satellite archival tag EcoSCOPE Age class structure Trophic level Trophic cascades Hydrographic containment Match/mismatch hypothesis Climate change and fisheries Marine biology Aquatic ecosystems Bioeconomics EconMult Ecopath FishBase Census of Marine Life OSTM/Jason-2 Fisheries databases Institutes Fisheries scientists
Wild fisheries	Ocean fisheries Diversity of fish Coastal fish Coral reef fish Demersal fish Forage fish Pelagic fish Cod fisheries Crab fisheries Eel fisheries Krill fisheries Kelp fisheries Lobster fisheries Shrimp fishery Eel ladder Fish ladder Fish screen Migration Salmon run Sardine run Shoaling and schooling Marine habitat Marine snow Water column Upwelling Humboldt current Algal blooms Dead zones Fish kill

Fisheries law, management, sustainability and conservation

Law	Fisheries law Exclusive economic zone Illegal, unreported and unregulated fishing United Nations Convention on the Law of the Sea United Nations Fish Stocks Agreement Fisheries Convention Magnuson–Stevens Act
Management	Fisheries management Monitoring control and surveillance Vessel monitoring system Fishery Resources Monitoring System Catch reporting Fisheries observer Catch share Individual fishing quota Minimum landing size Pulse fishing Slot limit EU Common Fisheries Policy EU MLS European Fisheries Control Agency National Marine Fisheries Service Regional fishery body Regional fishery management organisation
Sustainability	Sustainable fishery Maximum sustainable yield List of commercially important fish species Sustainable seafood Overfishing Environmental impact of fishing Fishing down the food web Destructive fishing practices Future of Marine Animal Populations The Sunken Billions The End of the Line Bycatch Discards Incidental catch Cetacean bycatch Turtle excluder device Shrimp-Turtle case
Conservation	Marine protected area Marine reserve Marine conservation Marine conservation activism Salmon conservation Grey nurse shark conservation Shark sanctuary European Environmental Agency U.S. Fish and Wildlife Service
Advocacy	FishAct Marine Stewardship Council Aquaculture Stewardship Council Friend of the Sea SeaChoice Seafood Watch Ocean Conservancy Ocean Outcomes Oceana Save Our Seas Foundation Sea Around Us WorldFish Defying Ocean's End HERMIONE PROFISH International Seafood Sustainability Foundation Sea Shepherd Conservation Society Greenpeace
Related issues	CalCOFI Fish slaughter Marine pollution Mercury in fish Shark culling Shark finning Threatened sharks Threatened rays
Outline of fishing Index of fishing articles Glossary of fishery terms

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