Ocean zoning within a sparing versus sharing framework

Revisiting Fishery Sustainability Targets

Density-dependent population dynamic models strongly influence many of the world's most important harvest policies. Nearly all classic models (e.g. Beverton-Holt and Ricker) recommend that managers maintain a population size of roughly 40-50 percent of carrying capacity to maximize sustainable harvest, no matter the species' population growth rate. Such insights are the foundational logic behind most sustainability targets and biomass reference points for fisheries. However, a simple, less-commonly used model, called the Hockey-Stick model, yields very different recommendations. We show that the optimal population size to maintain in this model, as a proportion of carrying capacity, is one over the population growth rate. This leads to more conservative optimal harvest policies for slow-growing species, compared to other models, if all models use the same growth rate and carrying capacity values. However, parameters typically are not fixed; they are estimated after model-fitting. If the Hockey-Stick model leads to lower estimates of carrying capacity than other models, then the Hockey-Stick policy could yield lower absolute population size targets in practice. Therefore, to better understand the population size targets that may be recommended across real fisheries, we fit the Hockey-Stick, Ricker and Beverton-Holt models to population time series data across 284 fished species from the RAM Stock Assessment database. We found that the Hockey-Stick model usually recommended fisheries maintain population sizes higher than all other models (in 69-81% of the data sets). Furthermore, in 77% of the datasets, the Hockey-Stick model recommended an optimal population target even higher than 60% of carrying capacity (a widely used target, thought to be conservative). However, there was considerable uncertainty in the model fitting. While Beverton-Holt fit several of the data sets best, Hockey-Stick also frequently fit similarly well. In general, the best-fitting model rarely had overwhelming support (a model probability of greater than 95% was achieved in less than five percent of the datasets). A computational experiment, where time series data were simulated from all three models, revealed that Beverton-Holt often fit best even when it was not the true model, suggesting that fisheries data are likely too small and too noisy to resolve uncertainties in the functional forms of density-dependent growth. Therefore, sustainability targets may warrant revisiting, especially for slow-growing species.

Cost-benefit analysis of ecosystem modeling to support fisheries management

Mathematical and statistical models underlie many of the world's most important fisheries management decisions. Since the 19th century, difficulty calibrating and fitting such models has been used to justify the selection of simple, stationary, single-species models to aid tactical fisheries management decisions. Whereas these justifications are reasonable, it is imperative that we quantify the value of different levels of model complexity for supporting fisheries management, especially given a changing climate, where old methodologies may no longer perform as well as in the past. Here we argue that cost-benefit analysis is an ideal lens to assess the value of model complexity in fisheries management. While some studies have reported the benefits of model complexity in fisheries, modeling costs are rarely considered. In the absence of cost data in the literature, we report, as a starting point, relative costs of single-species stock assessment and marine ecosystem models from two Australian organizations. We found that costs varied by two orders of magnitude, and that ecosystem model costs increased with model complexity. Using these costs, we walk through a hypothetical example of cost-benefit analysis. The demonstration is intended to catalyze the reporting of modeling costs and benefits.

Overcoming the impossibility of age-balanced harvest

In many countries, sustainability targets for managed fisheries are often expressed in terms of a fixed percentage of the carrying capacity. Despite the appeal of such a simple quantitative target, an unintended consequence may be a significant tilting of the proportions of biomass across different ages, from what they would have been under harvest-free conditions. Within the framework of a widely used age-structured model, we propose a novel quantitative definition of "age-balanced harvest" that considers the age-class composition relative to that of the unfished population. We show that achieving a perfectly age-balanced policy is impossible if we harvest any fish whatsoever. However, every non-trivial harvest policy has a special structure that favours the young. To quantify the degree of age-imbalance, we propose a cross-entropy function. We formulate an optimisation problem that aims to attain an "age-balanced steady state", subject to adequate yield. We demonstrate that near balanced harvest policies are achievable by sacrificing a small amount of yield. These findings have important implications for sustainable fisheries management by providing insights into trade-offs and harvest policy recommendations.

Prioritizing debt conversion opportunities for marine conservation

Incentivized debt conversion is a financing mechanism that can assist countries with a heavy debt burden to bolster their long-term domestic investment in nature conservation. The Nature Conservancy, an international conservation-based nongovernmental organization, is adapting debt conversions to support marine conservation efforts by small island developing states and coastal countries. Prioritizing debt conversion opportunities according to their potential return on investment can increase the impact and effectiveness of this finance mechanism. We developed guidance on how to do so with a decision-support approach that relies on a novel threat-based adaptation of cost-effectiveness analysis. We constructed scenarios by varying parameters of the approach, including enabling conditions, expected benefits, and threat classifications. Incorporating both abatable and unabatable threats affected priorities across planning scenarios. Similarly, differences in scenario construction resulted in unique solution sets for top priorities. We show how environmental organizations, private entities, and investment banks can adopt structured prioritization frameworks for making decisions about conservation finance investments, such as debt conversions. Our guidance can accommodate a suite of social, ecological, and economic considerations, making the approach broadly applicable to other conservation finance mechanisms or investment strategies that seek to establish a transparent process for return-on-investment decision-making.