What are the best practices for conducting cost-benefit analysis for sustainable fisheries?
Cost-benefit analysis (CBA) is a widely used tool for evaluating the economic and social impacts of different policies, projects, or programs. It compares the benefits and costs of an intervention, both in monetary terms, to assess its net value or rate of return. CBA can help decision makers choose the most efficient and effective options for achieving their objectives, such as improving environmental quality, public health, or social welfare. However, CBA is not a simple or straightforward process, especially when applied to complex and dynamic systems like sustainable fisheries. In this article, you will learn about some of the best practices for conducting CBA for sustainable fisheries, based on the principles and guidelines of the Food and Agriculture Organization (FAO) and other experts.