Icelandic cod fishery recertified

Certification demonstrates that the fishery is managed in a responsible manner according to internationally recognised criteria and is a testament to the continued development of Icelandic fisheries.

The assessment was in accordance with the third party, ISO65 accredited system of Global Trust/SAI Global Certification and provides a credible and independent certification of responsible fisheries management.

The assessment included a thorough review of the Icelandic fisheries management system including management rules, ITQ system and stock assessment. The assessment concluded that the management system and harvest control rule (HCR) adopted a precautionary approach, allowing for responsible harvesting and careful treatment of the ecosystem.

Cod is the single most important fish species for the Icelandic economy, with 32% of the export value of marine products. The cod quota for the current fishing year (Sept 2014 – August 2015) is 216,000 tonnes, and the stock is healthy as can be seen in The Marine Research Institute’s annual stock status report.