The European Commission on Friday backed a funding policy that leaves largely intact its substantial support for the fishing industry, despite the commission’s own finding that subsidies were leading to destructive overfishing.
The commission, the executive arm of the European Union, approved the creation of a EUR 6.5 billion, or USD 8.8 billion, European Maritime and Fisheries Fund to finance its Common Fisheries Policy from 2014 to 2020. Both the revised fisheries policy and its funding are due to be finalized in 2013 by a vote of the 27 EU member states.
Maria Damanaki, the commissioner for maritime affairs and fisheries, said in a statement that the fund would “increase economic growth and create jobs in the sector. No more money will be spent to build big vessels. Small-scale fisheries and aquaculture will benefit of this budgetary greening.”
Conservationists said the commission had made progress in some areas, but expressed disappointment with the details, saying overcapacity, the biggest problem facing fish stocks, was not adequately being addressed and noting that little financing appeared to be set aside for enforcement activities and scientific assessment.
