A new market instrument for sustainable economic and environmental development
Hansell, R.I.C.; Hansell, T.M.; Fenech, A.
Environmental Monitoring and Assessment 86(1-2): 203-209
2003
ISSN/ISBN: 0167-6369 PMID: 12859007 DOI: 10.1023/a:1024019121567Document Number: 324067
The regenerative capacity of ecosystems provides a regulatory basis for sustainable economic growth and development. A natural valuation of an ecosystem's services will arise in a market for developmental rights in the ecosystem using a unit of tradable 'right': E-Scrip. The amount of e-scrip needed for a development may be set by Environmental Assessment. The capacity of the ecosystem to regenerate with developmental pressure may be represented by an independent trader or Factor Proxy for the Environment who provides e-scrip to the market.