According to National Geographic, Iceland is one of only three well-managed fisheries in the world and practices there can serve as a model for fishing management elsewhere in the world, particularly in the newly developed fishing area in the Arctic.
Climate change has recently opened up areas of the Arctic Ocean to Alaskan fishermen and seafood companies. What was previously an almost impenetrable pack of ice has been receding in recent years, leaving long stretches of the Arctic coast accessible, particularly during the summer months.
In addition, climate change has warmed the ocean water temperatures to higher temperatures than was normal in the past, enticing fish to migrate north in search of colder waters. The fish migration has made Arctic fishing a far more favourable proposition than it was in the past.
Because the ecosystem is changing so rapidly, there is still so much that scientists do not understand, including what impacts commercial fishing activities might have on the wider ecosystem.
As a result, the North Pacific Fishery Management Council, the organisation in charge of managing marine fisheries in Alaska, has called for a ban on fishing in the Arctic until it can be done in a sustainable, environmentally friendly manner.
In future, effective management will certainly require the cooperation of the Arctic nations including Canada, Iceland and the European Union, among others.
Alaska currently provides about 50 per cent of the seafood consumed by Americans.