For the past 11 years, the United Nations Food and Agricultural Organization’s Code of Conduct has served as a foundation for collaborative management of international fisheries. It provides the primary principles for sustainable fishing; many nations have used it to introduce hundreds of management plans. We see evidence that it is beginning to have a positive effect on how some nations manage their marine harvesting. Nevertheless, the international community remains far from realizing the code’s potential, partly because of its relatively recent adoption, but also because countries have implemented its guidelines in a piecemeal fashion. The code comprises voluntary agreements; it would be much more effective if it called for independent oversight to monitor the progress, as well as support mechanisms for nations that lack the capacity to implement its recommendations.

Aquaculture Vitae
As international regulations develop, fishers will have to embrace new practices. Some of these are compatible with the goal of stock sustainability–if applied correctly. Aquaculture, or fish farming, is the fastest-growing food production technique in the world. Fish farming is still in its infancy; we are just beginning to see the impact of vast operations in the U.S., Canada, Japan, China and Norway. However, concerns persist over waste products building up near fish farms, the spread of disease among fish crowded together and the use of chemicals to control such diseases. Escaped fish can interbreed with wild populations, diluting biodiversity.

Yet aquaculture will grow, and the answers to these challenges could make it a significant component of sustainable fish production. Many companies and researchers are already experimenting with recirculating water, siting fish farms further inland and other techniques to preserve fragile marine ecosystems. For example, shrimp farming is proving less destructive to coral reefs than harvesting in the wild.

Another economically driven practice that could help alleviate overfishing is the "eco-labeling" of seafood that has been certified as sustainably harvested. In fact, as consumers have become more educated about fishing practices, a trend that is bound to continue, they have been known to exert significant influence. The dolphin-free tuna campaign led many fleets around the globe to change the way they capture tuna. Shellfish from restored clam and oyster beds have commanded a premium price when branded as such.

Effective agreements on how to manage shared fish stocks, however, are still the exception rather than the rule, and the economic drive to pull more fish from the sea is an urgent tragedy of the commons. Adapting our business, our regulations and our consumer habits are all necessary to achieve a sustainable harvest from the seas.

Jonathan Lash is president of the World Resources Institute. Last year he was named both one of the 100 most influential people in finance by Treasury and Risk Management magazine and one of Rolling Stone’s 25 environmental leaders.