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Update on the Caribbean Billfish Project (CBP): Investment Approach and Challenges Public Deposited

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  • Billfish have greater value as living targets for non-consumptive, or minimally consumptive, recreational fisheries than they do as either directed catch or by-catch species in commercial fleets. The pilot projects seek a Coasian solution to this problem through private funding mechanisms. The angler sector has a high willingness to pay for access to the billfish resource and the plan is to develop a mechanism to generate self-sustaining private investment in the sustainable management of highly migratory billfish stocks in the areas within and beyond national jurisdictions. These investments will include improved monitoring, control and surveillance as well as investments in education and gear modifications for the small scale fleets that harvest billfish. It is hoped that these investments in billfish friendly gear modifications will pay livelihood dividends through improved catch rates for billfish in the recreational fishery, improved commercial fish quality and access to high value supply chains for harvest other than billfish and reduced congestion and conflict between sectors. It is also hoped that the project will address the increase in fishing capacity brought by an explosion anchored FADs in the region and their use in a new and growing fishery that targets billfish. As the MCS and governance capacity in the region grows, it is hoped that the same types of policies can be expanded to the distant water longline fleets that have substantial billfish bycatch.
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  • 097634324X

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