GENEVA (AN) — Diplomats failed to meet an end-of-year deadline for a deal aimed at halting government subsidies that contribute to overfishing, several high-ranking World Trade Organization officials confirmed on Monday.
Many coastal communities around the world depend on fisheries for food and livelihoods, but must compete with government-financed industrial fishing vessels that draw down local fish stocks, according to economic and environmental experts who describe it as a tragedy of the commons, pitting self-interest against conservation.
