Deepwater oil drilling is posing great threat to the global fishery while catch shares system is an intelligent and practical response to the challenges facing 21st century fisheries management. Catch shares are tried and proven in the U.S. and more than 20 other countries and in hundreds of fisheries worldwide. Giving fishermen a percentage share of an allowable catch — a catch share — and allowing shares to be traded is a solution to overfishing where too many fishermen chase too few fish.
Recent researches show that catch-share fisheries are effective in protecting fish stocks, encouraging industry profitability and reducing regulatory inefficiency. Fishery councils believe that any major change in existing fisheries is vital and the councils recognize that economic and environmental gains from catch-share schemes do not come without a cost.
It is true that these changes often occur in response to overcapitalization and decreasing harvests and profits, it can be particularly hard hitting for some individuals and communities. Fishermen owning catch shares have a new long-term incentive to become good stewards of the resource. Conservation actions taken today will directly benefit catch-share holders tomorrow.
Study reveals that catch shares are part of the solution for fisheries management and are not a replacement for government oversight. Although they lead to greater self-governance, they require government involvement and public engagement. When fisheries are profitable they create more jobs and growth opportunities in local communities.
