Description
Discover the potential of environmental markets in New Zealand with our in-depth Science Series report. Environmental markets represent a dynamic solution for policymakers aiming to reduce environmental degradation while improving overall environmental quality. Unlike traditional regulation, these markets offer greater flexibility and cost-effectiveness for businesses seeking to meet their regulatory obligations. Our comprehensive analysis explores the history and emergence of environmental markets since the 1970s, highlighting their growth and prominence post-1990s. This report covers a diverse range of environmental commodities, including carbon offsets, water quality, and biodiversity credits, making it a valuable resource for understanding how these markets operate worldwide. We delve into the specific barriers faced in New Zealand and offer actionable insights to facilitate the establishment of successful environmental markets. By examining compliance markets, particularly those targeting greenhouse gases, water resources, and ecological preservation, we provide a roadmap for creating robust market frameworks that enhance sustainability in New Zealand. Explore the opportunities presented by environmental markets and contribute to a greener future today!
Environmental markets are one option in an array of interventions available to policymakers for reducing environmental degradation or improving environmental quality. While markets are not always an appropriate policy response, they are often promoted as a more palatable and cost...-effective option for achieving an environmental goal than stand-alone regulation, especially by those regulated. This is because markets can allow greater flexibility to those causing environmental harm in how they meet their regulatory obligations - which may result in cost-savings. Environmental markets first emerged in the 1970s and have become much more prominent internationally since the mid-1990s. A large number of markets now exist worldwide for a wide range of environmental commodities including water quality, water quantity, carbon, sulphurous and nitrous gases, fish stocks, wetlands, and threatened species. This growing international experience provides a basis for assessing whether, and in what circumstances, environmental markets are truly successful, and what is needed to establish a successful environmental market. In this Science Series report, the authors ask what is required to establish successful environmental markets in general, and investigate some of the barriers to the development of such markets in New Zealand. They identify some actions that could facilitate the evolution of successful environmental markets for New Zealand, focusing primarily focus on compliance markets, in particular those for greenhouse gases, water quality, water quantity and biodiversity.Read less
Environmental markets are one option in an array of interventions available to policymakers for reducing environmental degradation or improving environmental quality. While markets are not always an appropriate policy response, they are often promoted as a more palatable and cost...-effective option for achieving an environmental goal than stand-alone regulation, especially by those regulated. This is because markets can allow greater flexibility to those causing environmental harm in how they meet their regulatory obligations - which may result in cost-savings. Environmental markets first emerged in the 1970s and have become much more prominent internationally since the mid-1990s. A large number of markets now exist worldwide for a wide range of environmental commodities including water quality, water quantity, carbon, sulphurous and nitrous gases, fish stocks, wetlands, and threatened species. This growing international experience provides a basis for assessing whether, and in what circumstances, environmental markets are truly successful, and what is needed to establish a successful environmental market. In this Science Series report, the authors ask what is required to establish successful environmental markets in general, and investigate some of the barriers to the development of such markets in New Zealand. They identify some actions that could facilitate the evolution of successful environmental markets for New Zealand, focusing primarily focus on compliance markets, in particular those for greenhouse gases, water quality, water quantity and biodiversity.Read less