|
Increasingly, market-based instruments (MBIs) are being used to create new markets for natural resource management (NRM), where no market currently exists MBIs are used to deliver environmental outcomes more efficiently and effectively. In some cases, however, existing markets can be used to deliver environmental and NRM benefits.
There are three main approaches to using existing markets:
Each approach has its own characteristics, strengths and limitations.
There are opportunities for regional NRM groups to use existing markets for land and water resources to enhance NRM outcomes. Further opportunities may also exist in emerging carbon markets.
Using existing markets may be best delivered in conjunction with partner organisations operating at a state or national scale. For example, existing conservation revolving funds and regional NRM groups may benefit from improved co-ordination and exchange of information.
The potential to participate in water markets for environmental outcomes will depend on the policy and statutory arrangements in each jurisdiction. |