Can economic and biological management objectives be achieved by the use of MSY-based reference points?: A North Sea plaice (Pleuronectes platessa) and sole (Solea solea) case study

We examined the biological and economic impact of changing from management based on single-species limit reference points to one based on alternative targets, using the multispecies multifleet North Sea flatfish fishery. The robustness of reference points was tested against identified changes in plaice and sole biology. Current ICES single-species limit and precautionary biomass and fishing mortality reference points were seldom consistent with each other. Although they were generally robust to biological uncertainty, fishing at F(pa) for sole could lead to stock collapse under one biological scenario. Adoption of alternative targets would reduce reliance on current reference points as stocks moved to a more sustainable state. Maximum sustainable yield (MSY), maximum economic yield (MEY), and maximum employment conditions implied different effort levels in the two fleets modelled, and different profits. F(target) could be achieved with equal effort reductions in both fleets. Changes in stock biology affected the fishing effort required to maximize employment within the fishery, whereas MSY, F(max), and MEY targets were robust to this uncertainty. Resulting profits and yields did vary widely, however. The selection of target reference points therefore requires stakeholders to define fishery objectives explicitly, against which targets can be evaluated for the resulting trade-offs between risk to stocks, yield, employment, and other social objectives.