Handbook of Market Creation for Biodiversity

Issues in Implementation

image of Handbook of Market Creation for Biodiversity

Striking the right balance between the conservation/sustainable use and the loss of biodiversity requires accounting for all the impacts of its destruction. Weighing the loss against any potential benefits will ensure that the social, as well as economic, well-being of everyone are at the best levels possible. Market-based economic systems have the potential to ensure that such a balancing occurs, but require that all the impacts of its loss, or use, have been fully internalised into market transactions.

This book shows how public policy in the form of market creation can be used to internalise the loss of biodiversity. It promotes the use of markets to ensure that our collective preferences for conservation and sustainable use are reflected in economic outcomes.

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Policies Facilitating Market Creators

The influence of non-government participants in forming and sustaining markets can be just as powerful as that exerted by government policy. Policies that take into account and harness these other participants can have a much greater impact and are more likely to be successful. Information regarding biodiversity impacts can be important since many consumers are willing to pay a premium to reduce that impact. Creating the structures for the provision of accurate information can be a pivotal step in developing markets. In many cases, non-government organisations can be encouraged or empowered to provide information. Financial markets can also play an important role in getting markets up and running, by providing the necessary funding for startup firms. Any encouragement given to financial firms would involve ensuring ...

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