April 12, 2023

Report: Better Use of Public Money: the End of Fuel Subsidies for the Fishing Industry

New Report Reveals How EU Subsidies Drive Fossil Fuel Use Instead Of Supporting Socially And Environmentally Sustainable Fisheries

April 12, 2023

A new report shows that by cutting fuel subsidies, the EU could have instead generated between €653 million and €1.4 billion in annual revenue, and used it to pay the salaries of twenty thousand fishers or fund over six thousand energy reduction & decarbonisation projects.

Report: Better Use of Public Money: the End of Fuel Subsidies for the EU Fishing Industry

April 12, 2023

The EU fishing fleet is exempted from paying fuel taxes; these fuel-tax exemptions are indirect capacity-enhancing subsidies. High fuel prices and taxation can incentivise faster decarbonisation of industries, hence such indirect subsidies stand in the way of a more environmentally friendly EU fishing fleet.