The aim is to protect what is the most valuable fishery resource caught in areas beyond national jurisdiction, considering catches of the most important tuna species alone are worth over $10 billion annually.
“Today’s decision sets the stage for action on a global scale that will address both an economic and environmental threat to one of the world’s most important commercial fish species,” said Global Environment Facility (GEF) CEO Naoko Ishii, who approved the project.
Funding for the implementation phase of the project will come from the GEF, an international institution uniting 183 countries to address global environmental issues and support sustainable development, which has approved funding.
GEF has committed $50 million in support of the program, leveraging an additional $270m of co-financing.
To date, $30m in GEF grants has leveraged more than $150m of co-financing in support of the project, which forms part of a broader multi-stakeholder initiative working to ensure that these resources are harvested in a sustainable way.
Partners range from long-time sustainability groups like the World Wildlife Fund US and the Marine Stewardship Council (MSC) to newcomers such as the Global Seafood Sustainability Initiative (GSSI). The tuna industry is also a supporter, the UN News Centre said.
“I am pleased that we are able to bring together both public and private partners in this project, which give us a fighting chance to work on a scale sufficient to reverse negative trends threatening the global tuna fishery and the ocean environment that sustains it,” Ishi said.
Some specific aims include management improvement on the high seas. This means conserving biodiversity of related ecosystems and species and reducing illegal catches of the highly prized fish.
Another aim is to change the fishing mentality on the high seas, said the FAO.
“High-seas fisheries support the food security and livelihoods of millions of people worldwide,” said Arni Mathiesen, FAO assistant director-general for fisheries and aquaculture.
“Through collective action at all levels and broad cooperation that optimizes the use of scarce resources, this project – and the wider Common Oceans initiative – will help move the world away from ‘the race to fish’ and towards implementation of an ecosystem approach,” said Mathiesen.
“This is crucial to ensuring the future well-being and productivity of these vital marine ecosystems. Early successes will create incentives for donors and agencies to further invest in these types of catalytic projects.”
(seafood.vasep.com.vn) In the first six months of 2026, Ha Tinh province continued to implement comprehensive solutions to combat IUU fishing; strictly manage the fishing fleet, control fishing vessels entering and leaving ports, operate vessel tracking devices, trace the origin of seafood, and severely punish violations.
(seafood.vasep.com.vn) Vietnam's tilapia exports reached USD 7 million in June 2026, down 32% compared with the same month in 2025. Nevertheless, thanks to strong growth in the first five months of the year, cumulative tilapia exports in the first half of 2026 totaled USD 69 million, up 67% year on year.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company, a member of the Vietnam Association of Seafood Exporters and Producers (VASEP), has been honored with the "Famous Brand - Competitive Vietnamese Brand 2026" certification at an award ceremony organized by the Vietnam Intellectual Property Association (VIPA).
(seafood.vasep.com.vn) China imported nearly $1.4 billion worth of Vietnamese seafood in the first half of the year, a 40% increase compared to the same period last year, surpassing the US to become the largest export market for the industry.
(seafood.vasep.com.vn) As part of Vietfish 2026, the International Seafood Hosted Buyer Program has been designed as a dedicated B2B matchmaking initiative for selected international buyers. The program provides opportunities to meet directly with Vietnamese seafood companies, gain market insights, and experience Vietnam's seafood supply chain firsthand.
(seafood.vasep.com.vn) A Story from Cà Mau’s Coast It’s 5 AM in Cà Mau. Minh, a third-generation fisherman, is ready to set sail. But unlike his father and grandfather, his boat no longer runs on an old diesel engine that burns fuel and clouds the sky with smoke. Instead, it’s powered by a hybrid engine that saves 40% fuel—funded by an ESG program from a major seafood exporter.
(seafood.vasep.com.vn) Vietnam's pangasius industry is shifting its focus from increasing production volume to enhancing value-added products in order to meet the increasingly stringent requirements of export markets. In An Giang Province—the country's leading hub for pangasius farming and processing—businesses and farmers are prioritizing product quality, traceability, food safety, and sustainable development rather than expanding output.
(seafood.vasep.com.vn) Following strong growth in 2025, Vietnam’s tuna exports to Sweden continued to edge higher during the first five months of 2026. However, the picture is far from straightforward. Orders have fluctuated significantly from month to month, indicating that this market remains cautious, with purchasing decisions closely tied to actual demand and the import cycles of Nordic distributors rather than to a steady upward trend.
(seafood.vasep.com.vn) China’s shrimp imports in the first five months of 2026 continued to surpass the same period in 2025, indicating that demand in the world’s largest seafood-consuming market remains strong. However, behind the growth figures lies an increasingly competitive landscape: Ecuador dominates the competitively priced whiteleg shrimp segment, India remains the second-largest supplier, while Vietnam stands out in the lobster segment but still needs to strengthen its advantages through quality, traceability, and reliable supply.
(seafood.vasep.com.vn) Lobster exports to China continued to surge in the first half of this year, putting the lobster industry on the verge of reaching an export value exceeding $1 billion.
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