Tools and Techniques to Design Market Based Instruments for Ecosystem Services

  • 52 pages

  • Published: 5 Mar 2009

  • Author(s): Reeson, Andrew, Whitten, Stuart M., Coggan, Anthea, Shelton, Dave

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This report is a companion to Applying Market Based Instruments in a Regional Context. It details some of the tools and techniques, mentioned in the main volume, which are now available to assist policy makers in considering when, and how, to apply a market based instrument (MBI). It is in no way intended as a comprehensive review of MBIs and design issues – for that, the reader is referred to the main volume, and references therein. A second companion volume, Case Studies of MBI Applications, describes the lessons learned from a number of diverse MBIs implemented around Australia. MBIs are powerful tools which are being increasingly applied by Australian natural resource managers. However they are not a panacea. As with other powerful tools, they can be at best ineffective, and at worst damaging, if applied in inappropriate circumstances or with insufficient planning.