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The report argues that the complexity of high seas fisheries makes single-tool solutions ineffective, necessitating a combination of State regulation and economic incentives. It outlines nine principles for creating these 'smart mixes,' emphasizing the need for compatible instruments, targeted interventions, and the empowerment of non-State 'surrogate regulators.' The document supports these principles with case studies, including the Parties to the Nauru Agreement's Vessel Day Scheme and various tuna fishery initiatives in the Caribbean and Southeast Asia.

The document outlines a carbon offset mechanism designed to allow South African firms to reduce their carbon tax liability by investing in external GHG mitigation projects. It establishes a framework where offsets can provide a tax-free allowance of 5% or 10%, primarily relying on international standards like the CDM, VCS, and Gold Standard. The scheme is restricted to projects located within South Africa and those outside the direct scope of the carbon tax to prevent double counting. Administration is tasked to the Designated National Authority (DNA) within the Department of Energy, supported by an Independent Expert Committee and a national registry to track the transfer and retirement of credits.