Hidden dividends: Social and economic benefits of science-based management procedures
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Management Procedures (MPs), also known as harvest strategies, are one of the most effective tools for long-term sustainable fisheries management. By having managers and stakeholders agree on a shared long-term vision for a fishery, and the rules for achieving it, scientifically tested MPs provide a roadmap and a decision-making framework that help fisheries maintain (or if necessary, recover to) a healthy status. The sustainability benefits of MPs often attract attention with stock recovery outcomes illustrating their role in improving fish populations. Beyond environmental gains, MPs also generate important social and economic benefits for stakeholders and decision-makers, including higher catches and increased revenues from recovered stocks, as well as less visible but equally important outcomes such as greater long-term stability and predictability of catches, which support investment confidence and more effective business planning.This brochure summarizes the breadth of possible socioeconomic implications of MPs, including benefits, concerns, and the potential financial tools or resources that could be leveraged to support MPs and the fisheries that implement them.