Individual transferable quotas (ITQs) are being promoted as a panacea for global fisheries. However, analysis of BC fisheries raises serious questions about this new economic approach. It’s time to rethink how ITQs are designed, managed and implemented.
In this report BC fisheries are used as a case study and prove that ITQs promote quota leasing, give fishermen false sense of security, facilitate privatization of the industry, increase capitalization of fisheries, encourage dangerous fishing and increase the overall landed value of fish while masking poor financial performance of active fishermen. ITQs prove to not improve monitoring and scientific data collection, or the sustainability of fisheries.