Closing the funding gap for biodiversity conservation is one of the critical topics at COP 16 in October 2024. The funding gap has been estimated at $700 billion in Goal D of the Kunming-Montreal Agreement, based on a report, “Financing Nature”, published in 2020. Taking the example of fisheries and ocean conservation, this article shows the $700 billion figure is based on highly dubious calculations and assumptions. The author argues the funding gap report is not a serious effort to estimate the needs for supporting conservation efforts. Therefore, the $700 billion figure should be rejected by those opposed to the continuing financialisation of conservation.

The author makes 4 recommendations to make the external dimension of the CFP more effective: (1) the EU should shift from access agreements to fisheries governance agreements, while (2) continuing to support informed participation of stakeholders in third countries; (3) it should also ensure that all vessels of EU origin, including those reflagged, abide by sustainability standards; and (4) it should actively engage, at international level, to promote transparent, fair, and sustainable access arrangements applicable to all fleets of foreign origin fishing in developing countries.

With Senegal’s yellow card, fisheries agreement negotiations between the EU and Senegal are at a standstill. Meanwhile, the EU will negotiate the renewal of its SFPA with The Gambia, whose waters are bordered on both sides by Senegal’s. How would access to the Gambian waters be used by EU fleets, at a time when they may be barred from Senegal waters?

Andre Standing, senior consultant at CFFA, discusses with researcher Arınç Onat Kılıç, who has recently published a paper exploring the Seychelles Blue Bond, its impact on local fishing communities and the broader implications of private finance for developing the blue economy.

At a time when the fisheries agreement is being renegotiated, Senegal is initiating a formal dialogue with the EU on the fight against IUU fishing. As part of this dialogue, the European Union has a responsibility to improve controls on vessels of European origin, and to impose heavy penalties when they fail to comply with the rules.

In this article, the author underscores the ecological and social impacts of Norwegian intensive salmon farming, including the impact on food security in West Africa. The author remarks that while on the one hand, the European Union promotes fish for human consumption in Africa, on the other, the EU also opens wide its market gates for Norwegian farmed salmon, which is fed West African fish.