Objective: Maintain the fish stocks in Icelandic waters at a highly sustainable level, thereby ensuring efficient exploitation, stable employment and settlement throughout Iceland.1
In general, there is a good consensus within the stakeholder group with both the objectives and the implementation of the Icelandic Fisheries management act. The main concerns of the stakeholder group were linked to the effects of increased taxation and apparent uncertainty which frequent regulatory changes have for the fishing industry and the Icelandic community, at both local and national level. Other issues raised by the stakeholder group include removal of the quota consolidation barriers (currently 12% of TAC), effects of municipality controlled quota, aggregation of quotas in both the small (jig and line) and large type ITQ, and whether the industry should in general take socio-economic factors into account.
In Iceland, almost all fisheries are subject to a management system based on the concept of individually transferable quotas (ITQs). The Ministry of Industries and Innovation (formerly the Ministry of Fisheries) is responsible for management of the Icelandic fisheries and implementation of the legislation. Each fishing year (September-August), the Ministry issues regulations for each commercial fishery, including the total allowable catch (TAC) of each stock. The TAC for each species is set on the recommendations of the Marine Research Institute (MRI) which also advices the government on other regulatory issues, such as spatial and seasonal closures, gear restrictions and where applicable days-at-sea. Additional, non-biological regulations, are set by the government without consultation with the MRI.
A management proposal for the case study will be evaluated in relation to a set of objectives and criteria (see the list below). These criteria were determined in co-creation with stakeholders.
Objectives for the management plan (interest variable) | Candidate operational objectives and indicators |
---|---|
Increasing cod stock |
B4+ = 1,106,000 Btrigger = 220,000t Blim = 125,000t TAC = 218,000t by the end of planning period. |
Stable haddock stock |
B3+ = 104,000 Btrigger = 45,000t Blim = 45,000t TAC = 30,400t by the end of planning period. |
Stable saithe stock |
B4+ = 296,000 Btrigger = 65,000t TAC = 58,000t by the end of planning period. |
Lower CO2 emissions | 10% less CO2 emission by the end of the planning period. |
Maintain sea floor integrity | 5% less damage to the sea floor by the end of the planning period. |
Ensure social stability |
Employment in fishing and aquaculture around 2-3% of LF throughout the planning period Export earnings nearly 50% of all operating revenues of fishing by the end of planning period. |
Maintain strong economic performance of industry |
Increase labour productivity by 10% by the end of the planning period Mean EBITDA/Revenue level ≥ value in starting year by the end of the planning period. |