Many regional groups use market-based instruments (MBIs) to implement their regional natural resource management (NRM) plans and investment strategies.
Regional groups use a range of tools to achieve the management targets in their regional NRM plan. For years positive price instruments such as subsidies and grants were the most widely used policies. Regional groups have typically employed non-competitive approaches such as fixed grant payments, which have also generally target management actions without necessarily measuring resource outcomes.
In recent years there has been interest in the use of ‘market-like’ instruments, such as tenders and auctions, which have employed competitive means to allocate funding and focused more on natural resource outcomes such as biodiversity, in-stream salinity or water quality.
Examples of tenders, auctions and other MBIs that have been developed by regional groups can be found in the current case studies section of this site. Across Australia, 56 NRM regions have been identified. Through consultation and involvement with community groups, industry, Indigenous people and all levels of government, each region has produced integrated regional NRM plans and investment strategies, which help identify and coordinate actions that address issues specific to each region.
Many regions are including MBI projects to implement their plans and investment strategies. Regional groups provide incentives and assistance to land managers, industry and other community groups to support in implementing the regional NRM plans through their investment strategies.
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