Trials of market based incentives to conserve wildlife

Expenditure by Australian and New Zealand governments to address threatened species conservation is falling short of achieving objectives. In some parts of the world, price incentives, proprietorship and devolved responsibility for management, accompanied by effective regulation, have increased wildlife and protected habitats, particularly for iconic and valuable species. Micro economic reform has enhanced innovation and improved outcomes in many areas of the economy, but economic liberalism and competition is rarely applied to the management of wildlife. This paper described trials that would test if commercial value and markets can attract private and sector investment to compensate for government underspend on threatened species. Landholders, community groups, and investors would have a form of wildlife ownership by leasing animals on land outside protected areas. They would be able to acquire threatened species from locally overabundant populations, breed them, innovate and assist further colonization/range expansion while making a profit from the increase. The role of government would be to regulate, as is appropriate in a mixed economy, rather than be the (sole) owner and manager of wildlife. Wide application of market-based incentive would not answer all biodiversity-loss problems, but if could assist in the restoration of degraded habitat and connectivity and free up government support for the other species and ecosystems.