FISHERIES

Global Warming and Fisheries: Assessing the Economic/Financial Impact in UK

Global Warming and Fisheries: Assessing the Economic/Financial Impact in UK

Chapter 1: Introduction

Over the coming years and decades, the UK's marine area is expected to be subject to a range of environmental changes at a rate that is faster than has been experienced before. These changes include UK seas becoming warmer and more acidic as well as experiencing increased storminess with rising sea levels and changes in ocean circulation (Allison et al 2009 173). These trends are expected to trigger changes in the location and distribution or species that have traditionally been targeted by the UK fishing fleet, to affect the recruitment and catchability of some species and to create new fisheries within UK waters as warm-water adapted Species move northwards. The UK's existing fisheries governance structures have evolved over time and are designed to address market failures that are common to fisheries around the world.

Endemic problems such as overfishing, overcapacity and discarding have the potential to jeopardise the biological sustainability of stocks and dissipate the wealth embedded in fisheries to the detriment of the fishing industry and society more widely (Vecchi et al. 2007: 4316). Climate change poses an additional pressure in an already challenging policy framework that has the potential to exacerbate existing inefficiencies (for example by nudging stocks or ecosystems towards tipping points) but also to act as a catalyst for addressing some of these fundamental issues for the long-term benefit of the industry and the ecosystems on which they rely (Arnason 2007 163).

The UK Government's approach to climate change adaptation is to support people and organisations in preparing for the effects of a changing climate. Whilst the fishing industry makes a relatively modest contribution to national income, accounting for less than 0.05 of the UK's gross value added, the regulatory structure has a significant effect on the incentives and options available to fishers in adjusting their business practices and thus provides an interesting case study. An examination of the fishing industry highlights that it is vital that the UK's institutional arrangements embed the principles or good adaptation policy to ensure that the negative consequences of climate change on the marine environment are minimised and that UK businesses are well placed to benefit 1mm any emerging opportunities that arise. A review or fisheries governance structures in light of a changing climate also needs to be contextualised against recognition of the need to take an integrated and ecosystems-based approach to the management of marine resources (Allison 2009 173). This paper outlines the potential that the fishing industry may face in adapting to a changing climate and the role for the UK government in facilitating appropriate adaptation.

Problem Statement

Global warming heavily impacts on the production, performance, and financial health of the fisheries industry in UK.

Objectives:

To discover and assess the financial and economic impacts of global warming in the UK's fisheries.

To specify control and management measures to minimize costs of global warming on ...