How we use our natural capital will define the health of our globe and the wealth we derive from it. Aquamind works with fisheries management innovation based on the following concept:

  1. The Natural Capital offers a number of goods and services one being the fish resources.
  2. Result Based management of the natural capital offers a number advantages with regard to optimal use of the resources, industry adaptation, innovation and generating of wealth.
  3. Market based management allocating Transferable Fishing Concessions will ensure economic efficiency and balance quotas with catches.

In short:  All catches and effects count on the fishers’ scoreboard. The fisher’s use of technology and method is deregulated and the fisher may sell or lease his quotas in order to optimise both resource uptake and economic performance.

Natural Capital Management in fisheries and aquaculture

Natural Capital Management aim to optimise output of aquatic food in a management where ecosystem effects are successively incorporated in the management framework and internalised in the costs of the fishery.

Primary ecosystem effects relate to utilisation of commercial species. MSY is embedded in this. The principle of utilization is Catch Quota Management (CQM) where all catches including discards count on the quotas.

Secondary ecosystem effects relate to non targeted species, habitat effects and biodiversity. These may be managed individually by quotas; reference point limits and if this is not possible by horizontal rules regulating access and use of methods rather than quotas or limits.

The setting of targets, reference points etc takes place in a gradual inclusion of all relevant impacts from fisheries and aquaculture on the ecosystem, thereby accounting for all natural capital costs in the production function of fisheries and aquaculture.

The Common Fisheries Policy has taken the first steps in direction of a true natural capital management, illustrated by i.a the Council of ministers general approach June2012; Article 15:

All catches subject to catch limits shall be counted against the quotas

In support of that SCAR-Fish will:

Conceptualise a structure for science and knowledge with the aim to optimise resource output of aquatic food in a result based management where ecosystem effects are progressively incorporated in the management framework and internalised in the costs of the production