Increasingly, market-based instruments (MBIs) are being used to create a market for natural resource management (NRM), where no previous market existed. MBIs are used to deliver environmental outcomes more efficiently and effectively. In some cases, existing markets can be used to deliver environmental and NRM benefits.
There are three common approaches to using existing markets: leveraged private investment, revolving conservation funds and existing water markets. The following case studies outlines the unique characteristics, strengths and limitations of each type.
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