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Mitigating undesirable impacts in the marine Environment: a review of market- based management measures


Innes, JP and Pascoe, S and Wilcox, C and Jennings, S and Paredes, S, Mitigating undesirable impacts in the marine Environment: a review of market- based management measures, Frontiers in Marine Science, 2 Article 76. ISSN 2296-7745 (2015) [Refereed Article]


Copyright Statement

Copyright 2015 The Authors Licensed under Creative Commons Attribution 4.0 International (CC BY 4.0)

DOI: doi:10.3389/fmars.2015.00076


© 2015 Innes, Pascoe, Wilcox, Jennings and Paredes.Internationally, marine biodiversity conservation objectives are having an increasing influence on the management of commercial fisheries. While this is largely being implemented through Marine Protected Areas (MPAs) other management measures, such as market based instruments (MBIs), have proved to be effective at managing target species catch in fisheries and reducing environmental impacts in industries such as mining and tourism. Market-based management measures aim to mitigate the impacts of activities by better aligning the incentives their participants face with the objectives of management, changing their behavior as a consequence. In this paper, we review the potential of MBIs as management tools to mitigate undesirable environmental impacts associated with commercial fishing. Where they exist, examples of previous applications are described and the factors that influence their applicability and effectiveness are discussed. Several fishing methods and impacts are considered and suggest that whilst no single approach is most appropriate in all circumstances either replacing or complementing existing management arrangements with MBIs has the potential to improve environmental performance. This has a number of implications. From the environmental perspective they should enable levels of undesirable impacts such as damage to sensitive habitat or the bycatch of protected species of turtles, marine mammals, and seabirds to be reduced. The increased flexibility MBIs allow industry when developing solutions also has the potential to reduce costs to both the industry and managers, improving the cost-effectiveness of regulation as a result. Further, in the increasingly relevant case of MPAs the need for publicly funded compensation, often paid to industry when vessels are excluded from grounds, may also be significantly reduced if improved environmental performance makes it possible for some industry members to continue operating.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Applied economics
Research Field:Environment and resource economics
Objective Division:Economic Framework
Objective Group:Management and productivity
Objective Field:Management and productivity not elsewhere classified
UTAS Author:Innes, JP (Mr Jim Innes)
UTAS Author:Jennings, S (Dr Sarah Jennings)
ID Code:108644
Year Published:2015
Web of Science® Times Cited:15
Deposited By:TSBE
Deposited On:2016-04-29
Last Modified:2016-08-23
Downloads:186 View Download Statistics

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