ITQ (Individual Transferable Quota)
D4. Fisheries, aquaculture, blue economy and marine resourcesDefinition
Privately held tradable share of total allowable catch.
An individual transferable quota is a privately held, tradable share of a stock’s total allowable catch, designed to end the race to fish by giving each holder a secure portion. New Zealand’s 1986 Quota Management System and Iceland’s ITQ regime are the long-running examples. Proponents cite improved economic efficiency and stock recovery; critics point to quota consolidation, where large operators accumulate shares and squeeze out small-scale fleets, the concern behind caps on holdings.