Individual fishing quotas (IFQs), also known as "individual transferable quotas" (ITQs), are one kind of catch share, a means by which many governments regulate fishing. The regulator sets a species-specific total allowable catch (TAC), typically by weight and for a given time period. A dedicated portion of the TAC, called quota shares, is then allocated to individuals. Quotas can typically be bought, sold and leased, a feature called transferability. As of 2008, 148 major fisheries (generally, a single species in a single fishing ground) around the world had adopted some variant of this approach, along with approximately 100 smaller fisheries in individual countries. Approximately 10% of the marine harvest was managed by ITQs as of 2008. The first countries to adopt individual fishing quotas were the Netherlands, Iceland and Canada in the late 1970s, and the most recent is the United States Scallop General Category IFQ Program in 2010. The first country to adopt individual transferable quotas as a national policy was New Zealand in 1986.
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👉 Individual fishing quota in the context of Sustainable fishery
A conventional idea of a sustainable fishery is that it is one that is harvested at a sustainable rate, where the fish population does not decline over time because of fishing practices. Sustainability in fisheries combines theoretical disciplines, such as the population dynamics of fisheries, with practical strategies, such as avoiding overfishing through techniques such as individual fishing quotas, curtailing destructive and illegal fishing practices by lobbying for appropriate law and policy, setting up protected areas, restoring collapsed fisheries, incorporating all externalities involved in harvesting marine ecosystems into fishery economics, educating stakeholders and the wider public, and developing independent certification programs.
Some primary concerns around sustainability are that heavy fishing pressures, such as overexploitation and growth or recruitment overfishing, will result in the loss of significant potential yield; that stock structure will erode to the point where it loses diversity and resilience to environmental fluctuations; that ecosystems and their economic infrastructures will cycle between collapse and recovery; with each cycle less productive than its predecessor; and that changes will occur in the trophic balance (fishing down marine food webs).
Individual fishing quota in the context of Fisheries law
Fisheries law is an emerging and specialized area of law. Fisheries law is the study and analysis of different fisheries management approaches such as catch shares e.g. individual transferable quotas; TURFs; and others. The study of fisheries law is important in order to craft policy guidelines that maximize sustainability and legal enforcement. This specific legal area is rarely taught at law schools around the world, which leaves a vacuum of advocacy and research. Fisheries law also takes into account international treaties and industry norms in order to analyze fisheries management regulations. In addition, fisheries law includes access to justice for small-scale fisheries and coastal and aboriginal communities and labor issues such as child labor laws, employment law, and family law.
Another important area of research covered in fisheries law is seafood safety. Each country, or region, around the world has a varying degree of seafood safety standards and regulations. These regulations can contain a large diversity of fisheries management schemes including quota or catch share systems. It is important to study seafood safety regulations around the world in order to craft policy guidelines from countries that have implemented effective schemes. Also, this body of research can identify areas of improvement for countries that have not yet been able to master efficient and effective seafood safety regulations.
Individual fishing quota in the context of Catch share
Catch share is a fishery management system that allocates a secure privilege to harvest a specific area or percentage of a fishery's total catch to individuals, communities, or associations. Examples of catch shares are individual transferable quota (ITQs), individual fishing quota (IFQs), territorial use rights for fishing (TURFs), limited access privileges (LAPs), sectors (also known as cooperatives), and dedicated access privileges (DAPs).
Catch shares provide long-term secure privileges to participants and, in theory, an incentive for efficient, sustainable use of fish stocks. Actual outcomes in terms of efficiency and ecological sustainability are varied, based on design and implementation of the program.