How MMEY mitigates bio-economic impacts of climate change on mixed fisheries

This paper examines the effect of climate warming on the bio-economic performance of Bay of Biscay mixed fisheries and provides insights into the best management strategy for coping with global warming. To achieve this, a dynamic multi-species, multi-class, multi-fleets model is developed and calibrated using biological and environmental ICES and IPCC data. Fishing and economic data have been collected within the European DCF. The climate represented by the Sea Surface temperature is assumed to affect species recruitment. Three management strategies are then compared in terms of bio-economic outcomes: Status-Quo (SQ), Multi-species Maximum Sustainable Yield (MMSY), Multispecies Maximum Economic Yield (MMEY). Strategies are ranked with respect to two climate scenarios. Results exhibit that the SQ strategy is not sustainable and is characterized by a major decline of Sole. By contrast, the MMSY and the MMEY strategies improve the ecological state and economic performance of fisheries. Furthermore, the MMEY strategy provides higher bio-economic performances than MMSY. These bio-economic benefits are however altered by climate change effects. Under the MMEY, fleets with more diversified catches perform better facing climate change.