Individual Fishing Quota

Individual Fishing Quota

Individual fishing quotas (IFQs) also known as "individual transferable quotas" are one kind of catch share, a means by which many governments regulate fishing. The regulator sets a species-specific total allowable catch (TAC), typically by weight and for a given time period. A dedicated portion of the TAC, called quota shares, is allocated to individuals. Quotas can typically be bought, sold and leased, a feature called transferability. As of 2008, 148 major fisheries (generally, a single species in a single fishing ground) around the world had adopted some variant of this approach, along with approximately 100 smaller fisheries in individual countries. Approximately 10% of the marine harvest was managed by ITQs as of 2008. The first countries to adopt individual fishing quotas were the Netherlands, Iceland and Canada in the late 1970s, and the most recent is the United States Scallop General Category IFQ Program in 2010. The first country to adopt individual transferable quotas as a national policy was New Zealand in 1986.

Read more about Individual Fishing Quota:  Command and Control Approaches, A Move To Privatization and Market Based Mechanisms, Catch Shares, Effectiveness, In The United States

Famous quotes containing the words individual, fishing and/or quota:

    “The true courage of civilized nations is readiness for sacrifice in the service of the state, so that the individual counts as only one amongst many. The important thing here is not personal mettle but aligning oneself with the universal.”
    —Georg Wilhelm Friedrich Hegel (1770–1831)

    “Once fishing was a rabbit’s foot—
    O wind blow cold, O wind blow hot,”
    —Robert Lowell (1917–1977)

    “Some are petitioning the State to dissolve the Union, to disregard the requisitions of the President. Why do they not dissolve it themselves,—the union between themselves and the State,—and refuse to pay their quota into its treasury? Do not they stand in the same relation to the State that the State does to the Union? And have not the same reasons prevented the State from resisting the Union which have prevented them from resisting the State?”
    —Henry David Thoreau (1817–1862)