Promoting Green Growth in Fisheries

Fisheries and their governance are at a crossroad. The market failures inherent in the exploitation of capture and culture fisheries are increasingly resolved for target species as a result of institutional innovation, but substantial biodiversity loss and ecosystem externalities nonetheless remain (Grafton et al., 2010). A major challenge and opportunity facing seafood supply is to maintain or increase food production from marine resources while maintaining healthy ecosystems and conserving biodiversity. Meeting this challenge requires expanding the range of successfully applied management instruments and promoting technologies. It demands processes, and institutional and market design, that mitigate bycatch and to conserve stocks. We call this green growth. Green innovation that supports natural capital stocks will serve as a lynchpin to green growth through that complements conventional and incentive-based marine conservation and fisheries management approaches…