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Kris Van Nijen, Steven Van Passel, Chris G. Brown, Michael W. Lodge, Kathleen Segerson and Dale Squires

Abstract

In July 2015, the Council of the International Seabed Authority (ISA) adopted seven priority deliverables for the development of the exploitation code. The first priority was the development of a zero draft of the exploitation regulations. This article focusses on the second priority deliverable, namely the development of a payment mechanism for exploitation activities, following detailed financial and economic models based on proposed business plans. Between 2015 and 2017, five workshops have been organised with 196 active participants from 34 countries. The results so far are synthesised, drawing upon the outcome of these workshops, ISA technical papers, and the scholarly literature.

Solène Guggisberg

Abstract

The European Union’s (EU) new Regulation on the sustainable management of external fishing fleets strengthens the framework under which authorisations are granted to EU vessels desiring to fish outside of EU waters. It applies to all such fishing activities, conditions the granting of authorisations on sustainability criteria, and provides a level of institutional control on Member States’ actions, as well as some transparency. It also covers poorly monitored practices, such as reflagging and chartering. However, there have been some missed opportunities, in particular with regard to unregulated high seas fishing and the public accessibility of data on beneficial ownership. More generally, the impact on sustainability of the EU’s stricter measures will depend, in the highly inter-connected world of fisheries, on whether other States also embrace such good governance principles.