Category Archives: Transferable Fishing Concessions

European Fisheries on the Road to Recovery

A major milestone for the recovery of European fisheries was passed this week when the European Parliament approved a much-needed reform to the Common Fisheries Policy (CFP) by a great majority (502-to-137).

The proposed reforms set strong maximum sustainable yield (MSY) targets—the catch level that can be safely taken each year to maintain the fish population size at maximum productivity. The goal of setting these targets is to allow fish stocks to recover by 2020 at the latest, and to maintain all recovered stocks at this level. Fishing vessels will also be required to land all catches; different fisheries will phase in this change over the coming years, bringing to a halt the wasteful practice of discarding fish. The reforms also call for science based decision making as a foundation for long-term fisheries management planning. And member states will be free to use transferable fishing concessions (TFCs)—known in the United States as “catch shares” – to meet the sustainability goals of the reformed policy. With TFCs European fisheries managers will be better able to reduce discards, improve fishing safety and profitability, and enhance compliance. Read More »

Also posted in Catch Shares, EDF Oceans General, Europe, Policy| 1 Response, comments now closed