The Privatisation of Biodiversity?

The Privatisation of Biodiversity?

New Approaches to Conservation Law

New Horizons in Environmental and Energy Law series

Colin T. Reid and Walters Nsoh

Current regulatory approaches have not prevented the loss of biodiversity across the world. This book explores the scope to strengthen conservation by using different legal mechanisms such as biodiversity offsetting, payment for ecosystem services and conservation covenants, as well as tradable development rights and taxation. The authors discuss how such mechanisms introduce elemhents of a market approach as well as private sector initiative and resources. They show how examples already in operation serve to highlight the design challenges, legal, technical and ethical, that must be overcome if these mechanisms are to be effective and widely accepted.

Chapter 7: Transferable development permits, quotas and impact fees

Colin T. Reid and Walters Nsoh

Subjects: environment, environmental governance and regulation, environmental law, law - academic, environmental law


Beyond the mechanisms discussed in detail earlier in the book (payment for ecosystem services, biodiversity offsetting, conservation covenants/easements and taxation), an essentially market-based approach to biodiversity can be adopted through other means. Development can be controlled by means of tradable development permits, based on meeting conservation objectives set for larger areas rather than relying on detailed site-specific controls. The laws on water rights in several jurisdictions and hunting and fishing quotas also present market-based approaches to regulating activities which have a major effect on biodiversity. Adverse effects on biodiversity can also be balanced by the collection of impact fees which are dedicated to actions taken to benefit biodiversity.

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