MED is a consulting firm that specializes in promoting economically sustainable fisheries through robust fisheries management and sound economics. We do this by delivering rapid and pragmatic decision-support and data management that serve the business objectives of the Seafood Industry.
MED was established because it identified a critical information gap in the seafood sector, despite improvements in the ability to monitor spatial abundance and understanding of the mechanisms affecting fisher’s behaviour. This gap related to a lack of economic analysis on the dynamics of the stock and fleet, and the ability to integrate this information into the seafood business.
Without good economic information, well-intentioned companies more often do not have the tools and resources to maximize NPV by reducing costs, increasing revenue and incorporate sustainability into their seafood business. Economic information is useful for fisheries management purposes, to better understand the tradeoffs associated with alternative spatial closures, and useful to seafood businesses in developing market driven harvesting, product traceability, and quota accounting.
MED hope that as we gradually learn more about how, why and where species and populations are distributed over space and over large temporal scales; seafood businesses can begin to think about optimizing their quota portfolios, market demand and consumer requirements, improve fleet and gear efficiencies and finally Maximize Economic Yield.