Incentive instruments for the sustainable use of marine resources

The Australian Government recently ratified the “Oceans Policy” which provides a policy framework to effectively manage the resources and uses of the Australian Exclusive Economic Zone. The Oceans Policy is to be implemented through Regional Marine Plans that are based on the notion of large marine ecosystems and have the objective to integrate sectoral commercial interests and conservation objectives. This paper makes a theoretical contribution to the development of Regional Marine Plans which will demand the specification of detailed policies for regulating the various marine uses and impacts in the respective marine regions. The paper discusses a wide range of policy instruments and exemplifies their potential role for the management of marine resources and uses. The term incentive instrument includes financial and economic instruments as well as legal and regulatory instruments, education, co-management, voluntary approaches, community-based mechanisms and research. A set of criteria is established for the evaluation of individual incentive instruments. They are further placed in the context of a series of principles for policy design. The paper explores potential management instruments to: improve water quality of streams, estuaries and oceans, create sustainable fisheries, ensure sustainable marine tourism and recreation, manage conflict between user and interest groups, ensure environmentally sound marine transport and petroleum exploration and mining.