Report | June 2, 2022

Risky business: How companies can avoid supporting illegal, unreported and unregulated (IUU) fishing

IUU fishing constitutes one of the most serious threats to sustainable fisheries and to a healthy ocean. Weaknesses in international fisheries governance make IUU fishing a notoriously difficult issue to tackle, and assistance from the private sector is critical. All companies that offer services to the fishing sector can play a significant role in helping to combat this problem. Operators that engage in illegal fishing, much like legitimate operators, rely on businesses that repair or maintain vessels, or that provide fuel, logistical support, crews, satellite communications, classification or statutory services, or risk and compliance services. By providing services to vessels engaged in illegal fishing, companies may unknowingly expose themselves to multiple risks: non-compliance with national and international legislation, financial losses, reputational damage, and association with crime, environmental destruction, and human rights abuses. By limiting their services to only legitimate operators, companies can reduce such risks, and make it more difficult for illicit operators to continue fishing and maintain financial viability.