The Natural Resource Defense Council (NRDC) has evaluated the results of the American change to fisheries management in 1996, in which overfished stocks were to be rebuilt according to the Bmsy principle and scientific advice adhered to. So far, the benefits have been significant with both stocks and revenue growing quickly, and are set to continue.
Changes to American fisheries legislation were focused on rebuilding fish stocks. The report analysed 44 of these which had rebuilding plans put in place after the law was revised and have been evaluated recently. They found that 27 have stood out as rebuilding success stories, leading to revenues from these species increasing by 92%. Rebuilding all their fish stocks will ultimately increase commercial fishermen’s dockside revenues by $2.2 billion a year.
Some fisheries have failed to improve though, and the author states that “the main reason for poor or limited rebuilding success in our report was continued overfishing of a stock while it was undergoing a rebuilding plan.”
The benefits of improvement to fish stocks have also been reaped by others than just commercial fishermen. The “National Marine Fisheries Service (NMFS) estimates that the increased number of angler trips from the 1990s to the 2000s amounted to an additional $1.4 billion in economic activity and 18,660 jobs.”
The NMFS “total estimated economic benefits would amount to as much as $31 billion and 500,000 new jobs.”
In the EU, the reform of the CFP is ongoing with the target for rebuilding fish stocks using the maximum sustainable yield principle one of the main foci of negotiations. The example from America shows that a biomass target provides a goal for fishery managers to aim toward when rebuilding stocks, and the subsequent environmental and socio-economic benefits of meeting these are significant.