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Climate-driven changes in aquatic environments have already started to affect the European aquaculture sector's most commercially important finfish and shellfish species. In addition to changes in water quality and temperature that can directly influence fish production by altering health status, growth performance and/or feed conversion, the aquaculture sector also faces an uncertain future in terms of production costs and returns. For example, the availability of key ingredients for fish feeds (proteins, omega-3 fatty acids) will not only depend on future changes in climate, but also on social and political factors, thereby influencing feed costs. The future cost of energy, another main expenditure for fish farms, will also depend on various factors. Finally, marketing options and subsidies will have major impacts on future aquaculture profitability. Based on the framework of four socio-political scenarios developed in the EU H2020 project climate change and European aquatic resources (CERES), we defined how these key factors for the aquaculture sector could change in the future. We then apply these scenarios to make projections of how climate change and societal and economic trends influence the mid-century (2050) profitability of European aquaculture. We used an established benchmarking approach to contrast present-day and future economic performance of "typical farms" in selected European production regions under each of the scenarios termed "World Markets," "National Enterprise," "Global Sustainability" and "Local Stewardship." These scenarios were based partly on the IPCC Special Report on Emissions Scenarios framework and their representative concentration pathways (RCPs) and the widely used shared socio-economic pathways (SSPs). Together, these scenarios contrast local versus international emphasis on decision making, more versus less severe environmental change, and different consequences for producers due to future commodity prices, cash returns, and costs. The mid-century profitability of the typical farms was most sensitive to the future development of feed costs, price trends of returns, and marketing options as opposed to the direct effect of climate-driven changes in the environment. These results can inform adaptation planning by the European aquaculture sector. Moreover, applying consistent scenarios including societal and economic dimensions, facilitates regional to global comparisons of adaptation advice both within and across Blue Growth sectors.

It has proven extremely challenging for researchers to predict with confidence how human societies might develop in the future, yet managers and industries need to make projections in order to test adaptation and mitigation strategies designed to build resilience to long-term shocks. This paper introduces exploratory scenarios with a particular focus on European aquaculture and fisheries and describes how these scenarios were designed. Short-, medium- and long-term developments in socio-political drivers may be just as important in determining profits, revenues and prospects in the aquaculture and fisheries industries as physical drivers such as long-term climate change. Four socio-political-economic futures were developed, based partly on the IPCC SRES (Special Report on Emissions Scenarios) framework and partly on the newer system of Shared Socio-economic Pathways (SSPs). 'Off theshelf' narrative material as well as quantitative outputs were 'borrowed' from earlier frameworks but supplemented with material generated through in-depth stakeholder workshops involving industry and policy makers. Workshop participants were tasked to outline how they thought their sector might look under the four future worlds and, in particular, to make use of the PESTEL conceptual framework (Political, Economic, Social, Technological, Environmental, and Legal) as an aide memoire to help define the scope of each scenario. This work was carried out under the auspices of the EU Horizon2020 project CERES (Climate change and European aquatic RESources), and for each 'CERES scenario' (World Markets, National Enterprise, Global Sustainability and Local Stewardship), additional quantitative outputs were generated, including projections of future fuel and fish prices, using the MAGNET (Modular Applied GeNeral EquilibriumTool) modeling framework. In developing and applying the CERES scenarios, we have demonstrated that the basic architecture is sufficiently flexible to be used at a wide diversity of scales. We urge the climate science community to adopt a similar scenarios framework, based around SSPs, to facilitate global cross-comparison of fisheries and aquaculture model outputs more broadly and to harmonize communication regarding potential future bioeconomic impacts of climate change.

Climate-driven changes in aquatic environments have already started to affect the European aquaculture sector's most commercially important finfish and shellfish species. In addition to changes in water quality and temperature that can directly influence fish production by altering health status, growth performance and/or feed conversion, the aquaculture sector also faces an uncertain future in terms of production costs and returns. For example, the availability of key ingredients for fish feeds (proteins, omega-3 fatty acids) will not only depend on future changes in climate, but also on social and political factors, thereby influencing feed costs. The future cost of energy, another main expenditure for fish farms, will also depend on various factors. Finally, marketing options and subsidies will have major impacts on future aquaculture profitability. Based on the framework of four socio-political scenarios developed in the EU H2020 project climate change and European aquatic resources (CERES), we defined how these key factors for the aquaculture sector could change in the future. We then apply these scenarios to make projections of how climate change and societal and economic trends influence the mid-century (2050) profitability of European aquaculture. We used an established benchmarking approach to contrast present-day and future economic performance of "typical farms" in selected European production regions under each of the scenarios termed "World Markets," "National Enterprise," "Global Sustainability" and "Local Stewardship." These scenarios were based partly on the IPCC Special Report on Emissions Scenarios framework and their representative concentration pathways (RCPs) and the widely used shared socio-economic pathways (SSPs). Together, these scenarios contrast local versus international emphasis on decision making, more versus less severe environmental change, and different consequences for producers due to future commodity prices, cash returns, and costs. The mid-century profitability of the typical ...

It has proven extremely challenging for researchers to predict with confidence how human societies might develop in the future, yet managers and industries need to make projections in order to test adaptation and mitigation strategies designed to build resilience to long-term shocks. This paper introduces exploratory scenarios with a particular focus on European aquaculture and fisheries and describes how these scenarios were designed. Short-, mediumand long-term developments in socio-political drivers may be just as important in determining profits, revenues and prospects in the aquaculture and fisheries industries as physical drivers such as longterm climate change. Four socio-political-economic futures were developed, based partly on the IPCC SRES (Special Report on Emissions Scenarios) framework and partly on the newer system of Shared Socio-economic Pathways (SSPs). 'Off the shelf' narrative material as well as quantitative outputs were 'borrowed' from earlier frameworks but supplemented with material generated through in-depth stakeholder workshops involving industry and policy makers. Workshop participants were tasked to outline how they thought their sector might look under the four future worlds and, in particular, to make use of the PESTEL conceptual framework (Political, Economic, Social, Technological, Environmental, and Legal) as an aide memoire to help define the scope of each scenario. This work was carried out under the auspices of the EU Horizon 2020 project CERES (Climate change and European aquatic RESources), and for each 'CERES scenario' (World Markets, National Enterprise, Global Sustainability and Local Stewardship), additional quantitative outputs were generated, including projections of future fuel and fish prices, using the MAGNET (Modular Applied GeNeral Equilibrium Tool) modeling framework. In developing and applying the CERES scenarios, we have demonstrated that the basic architecture is sufficiently flexible to be used at a wide diversity of scales. We urge the climate science ...