A Review of economic analysis of climate change impacts and adaptation in fisheries and aquaculture

Focusing on economic methods, this study provides a comprehensive review of the current research in fisheries and aquaculture within the context of climate change. We find there has been remarkable progress in evaluating the biophysical impacts of climate change on fish. However, the effect those impacts have on future fish stocks, yields, and dynamics are less understood. Climate change adaptation strategies in fisheries and aquaculture lack quantitative assessment, while current vulnerability indices rely heavily on subjective weighting schemes. Economic studies involving fisheries and aquaculture have seen some recent advancements but can be improved through incorporating methods from other disciplines, notably agricultural economics. Relative to its increasingly large role in global fish supply, the aquaculture sector is found to be under-represented in the economic literature. We suggest that future research in fisheries and aquaculture should further incorporate methods from agricultural economics, focus on the economics of aquaculture, and refine interdisciplinary research methods such as bioeconomic modelling.

“Crash landing” obligation for Mediterranean mixed fisheries: Evaluation of management strategies using bioeconomic modelling in the Aegean Sea

Minimizing unwanted catches is a major milestone for achieving sustainable fisheries. In the framework of the Common Fisheries Policy, a landing obligation is being established progressively in European waters (Article 15, EU Regulation 1380/2013). Supplementary management measures have been proposed to support and enhance the effectiveness of this new regime. In this context, the effect of the landing obligation on a demersal mixed fishery (coastal and trawl fleet) in the Aegean Sea (NE Mediterranean Sea) was assessed in terms of both biological and economic sustainability. Our results show that the landing obligation alone does not ensure sustainable fisheries. Management action should be directed to the introduction of additional measures. Evidence suggests that improving selectivity and protecting the nursery grounds are possible solutions to decrease discards and ensure sustainable fisheries in the long term. The landing obligation can have a role in incentivizing the adoption of these management measures that ensure lower fishing mortality on juvenile fish.

Bioeconomic modelling of grey seal predation impacts on the West of Scotland demersal fisheries

The role grey seals have played in the performance of fisheries is controversial and a cause of much debate between fishers and conservationists. Most studies focus on the effects of seal damage to gears or fish and on prey population abundance but little attention is given to the consequences of the latter for the fisheries. We develop a model that quantifies the economic impact of grey seal predation on the West of Scotland demersal fisheries that traditionally targeted cod, haddock and whiting. Three contrasting fishing strategy scenarios are examined to assess impacts on equilibrium fleet revenues under different levels of seal predation. These include status quo fishing mortality (SQF, steady state with constant fishing mortality), open access fishing (bioeconomic equilibrium, BE) and the maximum economic yield (MEY). In all scenarios, cod emerges as the key stock. Large whitefish trawlers are most sensitive to seal predation due to their higher cod revenues but seal impacts are minor at the aggregate fishery level. Scenarios that consider dynamic fleet behaviour also show the greatest effects of seal predation. Results are sensitive to the choice of seal foraging model where a type II functional response increases sensitivity to seal predation. The cost to the fishery for each seal is estimated.