A cluster of small Pacific islands is poised to make history in the management of global fish stocks. This week, when conservationists from around the world gathered at the fifth annual Our Ocean Conference in Bali, the Federated States of Micronesia (FSM) unveiled a bold promise and issued an even bolder challenge: full transparency in tuna fishing by 2023.

If FSM's commitment is replicated, citizens of the Pacific could reclaim control over a natural resource that forms the backbone of the region's economies. And it would promote future prosperity by helping to ensure that tuna stocks are fished sustainably and that foreign vessels fishing in these waters do not take more than is permitted by law.

The mechanism that FSM and The Nature Conservancy have presented this week is called the Technology for Tuna Transparency Challenge, a combination of monitoring and regional pacts aimed at improving fishing oversight. The initiative represents the first time a developing country has committed to 100 percent transparency in its fishery operations; if it succeeds, it could trigger a transformation of how seafood is managed worldwide.