This post was written by Amanda Leland, Executive Director, EDF, coauthor with Jamie Workman of Sea Change: Unlikely Allies and a Success Story of Oceanic Proportions.
Man fishing for red snapper in a Galveston, TX, fishery. Fish stocks have already made a comeback across the U.S. with market-based reforms and the introduction of “catch shares.”
John Rae
When costs are high and margins slim, businesses fail. Industries facing that squeeze can learn from a strategy that dramatically reduced operating costs, cut waste and monetized superior quality. It’s a playbook that didn’t come from a start-up or global retailer — it came from the ocean.
Twenty years ago, a New York Times headline screamed “Study Sees ‘Global Collapse’ of Fish Species.” It reported on analyses predicting “species will vanish” and “ecosystems will unravel” if the world stayed on its current path. For decades, overfishing — catching fish faster than nature can replenish them — was depleting fish stocks, straining coastal economies and outpacing regulations. It seemed like a tragedy we couldn’t stop.
Now get ready for a twist you don’t hear often these days: People from opposing sides came together and made the situation dramatically better.
Comeback: From collapse to catch shares
Picture Buddy Guindon, a Galveston, Texas, commercial fisherman, back in the early 2000s, racing rivals for Gulf red snapper in a fishery on its last legs. Costs soared, prices tanked and fish populations collapsed. Fishing was the most dangerous job in America. Buddy was risking his life on treacherous seas in a declining business, trying to feed his family in fishing seasons that were reduced from months to a few frantic days. If you’ve ever watched “Deadliest Catch,” you get the idea.
Then something changed. Fishermen, scientists, environmentalists and policymakers came together to design a solution that would protect our oceans and protect fishermen’s lives and livelihoods.
This market-based approach is called “catch shares” and it starts with scientists setting a science-based limit on how much can be caught. Fishermen receive a secure share of that limit, which gives them long-term access and a financial stake in protecting the resource. Suddenly, it pays to fish carefully, avoid waste and protect the habitat, because they can catch more and earn more as fish populations rebound.
From resistance to economic rebound
But change is hard and Buddy resisted — he was a fiercely independent commercial fisherman, bar owner and prior-service U.S. Marine. But once the new rules kicked in, his world flipped. With a secure quota, he fished smarter, slashing his costs (including fuel and ice) by 80% while doubling prices per pound of fish. He sold into premium markets, boosting quality and profits. Commercial overfishing ended and red snapper roared back, supporting year-round fishing and thriving businesses across the Gulf Coast. Today, Buddy boards boats with fishermen as far away as Japan to talk about how catch shares might help them stabilize their fishery and grow their business.
Catch shares give fishermen secure stakes, incentivizing long-term growth over short-term grabs, and ensure long-term sustainability of fish stocks — a group of fish of the same species that live in the same geographic area. The numbers tell the story: Since 2000, nearly 50 species have been rebuilt in the U.S., jobs jumped 23% and dockside revenues increased 30%. Some fleets saw revenues soar 90% in five years. This is natural capital yielding real wealth.
Sound science supports strong markets
Catch shares let fishermen run their businesses when, where and how they want, if they stay within their quota. Fishermen protect sensitive habitats, even helping craft dynamic reserves that protect more than 12,000 square miles along the U.S. West Coast.
By saving fish, we’re serving multiple markets. Longer seasons and steadier supply chains mean chefs, retailers and distributors get predictable, high-quality seafood. Tech like onboard cameras, AI-optimized routing and blockchain traceability delivers transparency consumers crave.
Catch shares are now a global playbook, used in 40 countries from Belize to New Zealand. Scaling the approach further could add $50 billion to the global economy annually. That strengthens coastal communities and feeds a growing population.
How this can help anyone managing costs right now
The ocean’s turnaround offers a repeatable playbook for stabilizing costs and protecting margins:
- Don’t micromanage. Set hard limits on the scarce thing (fish, water, emissions, grid capacity), then let operators optimize within those guardrails.
- Enlist those closest to the problem in getting to the solution. They know what’s needed and what will work.
- Give people a stake. When access is secure, teams plan for quality and timing, not just volume — reducing waste and smoothing supply.
- Measure what matters. Transparent data builds trust and ensures quality.
- Reward outcomes, not box-checking. The best systems set goals and let innovation flourish.
The takeaway
The world is in desperate need of solutions that work. The ocean’s turnaround is a powerful reminder: Align incentives with outcomes, engage stakeholders in designing solutions and verify performance — then markets will do a lot of the heavy lifting. Whether you manage seafood, grains, energy or water, the same principles apply.
If you want to manage costs and stabilize supply chains, don’t just chase cheaper sources — build better-governed ones. That’s how to protect customers, margins and the future supplies we all depend on.
Source: https://www.forbes.com/sites/edfenergyexchange/2025/10/06/how-this-innovative-business-model-turned-around-a-troubled-industry/
