Evaluating the role of market-based instruments in protecting marine ecosystem services in wild-caught fisheries

Erin L. Murphy, Miranda Bernard, Leah R. Gerber and Kevin J. Dooley

Ecosystem Services, 2021, vol. 51, issue C

Abstract: Over the last few decades there has been increasing concern about the sustainability of wild-caught fisheries. Ecosystem-based fisheries management and the use of market-based instruments represent promising approaches to promote sustainable fisheries. However, little is known about the extent to which market-based instruments align with the principles of ecosystem-based management. In this paper, we evaluate seven market-based instruments applied to wild-caught fisheries against an adapted version of the Millennium Ecosystem Assessment typology to measure how well they address marine ecosystem services. Our results indicate that market-based instruments used in wild-caught fisheries do not explicitly address all marine ecosystem services in the text of their standards. While almost all address provisioning services, they generally do not address regulating, cultural, or supporting services. The explicit incorporation of ecosystem services into market-based instruments may offer an opportunity to better support the goals of ecosystem-based fisheries management and improve the sustainability of wild-caught fisheries. The historical focus on stock management, the breadth in the missions of implementing organizations, and the barriers to evaluating ecosystem services are likely contributors to the slow uptake of ecosystem service-oriented requirements.

Keywords: Fisheries sector; Natural resource management; Market-based instruments; Certifications; Business sectors; Sustainability; Ecosystem services (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2212041621001145
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoser:v:51:y:2021:i:c:s2212041621001145

DOI: 10.1016/j.ecoser.2021.101356

Access Statistics for this article

Ecosystem Services is currently edited by Leon C Braat

More articles in Ecosystem Services from Elsevier
Bibliographic data for series maintained by Catherine Liu ().