Individual Transferable Quotas (ITQs)

Individual Transferable Quotas (ITQs) are a fisheries management tool that allocate a specific portion of the total allowable catch (TAC) of a fishery to individual fishermen or companies. These quotas can be bought, sold, or transferred, providing flexibility and economic incentives to fish sustainably. ITQs help prevent overfishing by setting clear catch limits while allowing market mechanisms to allocate fishing rights efficiently. This system encourages responsible harvesting, promotes sustainable practices, and can lead to improved fish stock health, economic stability for fishermen, and healthier marine ecosystems.