Biological and economic objectives are not mutually exclusive and we need management systems that actively encourage innovation and efficiencies while ensuring sustainability. Without the use of exclusive rights (ITQs or ITEs) in fisheries we run two unacceptable risks. Historically a lack of defined fishing rights lead to overcapitalisation and over fishing. In today’s more competitive investment environment, poorly defined fishing rights are unlikely to attract any investment at all.
If you would like to discuss options for your fishery, please drop us a line.