An assessment of intermediary roles in payments for ecosystem services schemes in the context of catchment management: An example from South West England

Payments for Ecosystems Services (PES) schemes are an underdeveloped component of the policy mix for catchment management in many countries. The importance of intermediaries to such schemes is acknowledged in the literature but few studies go beyond theory to evaluate practice. This paper analyses generic intermediary functions for PES. It then evaluates an innovative example from southwest England that provides illustrations, and some lessons regarding necessary capabilities and characteristics for intermediaries, and understanding of their form, functions and modalities. The ‘UpStream Thinking’ project was co-developed by a private water company and an environmental charity. The former translated effective demand from shareholders and water customers for improved raw water quality into finance, whilst the latter had capabilities for catchment-scale on-farm delivery and trusted acceptance as an intermediary. While any sector can potentially provide a PES intermediary, the value driven, not-for-profit and politically neutral voluntary sector proves to be a good fit. Such ‘boundary organisations’ are also well placed for horizontal coordination of catchment management authorities and actions

Prospects for Payments for Ecosystem Services in the Brazilian Pantanal: A Scenario Analysis

The present study investigates the prospects for a large-scale implementation of Payments for Ecosystem Services (PES) schemes in the Brazilian Pantanal wetland. Despite increasing environmental threats associated with development pressures and the growing interest of public and private organizations, no PES schemes are currently in place in the Pantanal. Through an exploratory scenario analysis, this article determines the prospects for PES in the area. The findings suggest that a large-scale implementation is unlikely, as this would require much higher levels of environmental awareness among local decision makers and low substitution rates of ecosystem services by technology. Furthermore, strong socioeconomic inequality between inhabitants of the Pantanal lowlands and wealthy farmers of the neighboring uplands means that potential suppliers of ecosystem services would face very high opportunity costs to participate in PES schemes. The research findings are also relevant to other environmentally sensitive regions experiencing rapid economic growth and weak environmental regulation. </jats:p

Global Liquidity and House Prices: A VAR Analysis for OECD Countries

Global monetary dynamics has been particularly strong in recent years. At the same time, house prices in many OECD countries increased sharply, significantly outpacing the relatively subdued development in consumer prices. In this paper we argue that different price elasticities on asset and consumer markets help to explain the observed relative price change between assets and consumer goods. Using a VAR analysis and aggregated data for the major OECD countries, our empirical results are supportive of this relationship. Both house and consumer prices are determined by global monetary conditions; however, while global liquidity shocks lead to relatively fast responses in global house prices, significant responses of the global CPI index to money shocks occur only after long time lags. In addition, we find subsequent spillovers from asset prices to consumer prices on a global scale

Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View

Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in consumer prices. We investigate the interactions between money and goods and asset prices at the global level. Using aggregated data for major OECD countries, our VAR results support the view that different price elasticities on asset and goods markets explain the observed relative price change between asset classes and consumer goods

COMMUNITY PROTOCOLS AS TOOLS FOR RESISTING EXCLUSION IN GLOBAL ENVIRONMENTAL GOVERNANCE

ABSTRACT This paper analyzes the rise of the community protocol approach under the access and benefit-sharing (ABS) transnational governance arena, to understand how local initiatives translate a global environmental regulation. This paper contributes to the literature on transnational governance by showing how this is constituted by a series of translation processes and each time a concept is introduced in a transnational arena and then translated by a community or organization, it gains new forms and uses depending on the interests and experiences of the actors involved. However, the same concept used for the same goal by communities in different parts of the world led to different concrete outcomes, which points to the idea that the outcomes in translation processes are not only ongoing but also unpredictable. In addition, the cases illustrate that in the process of actively translating a global regulation, the local actors themselves also change. Finally, the emergent findings show how community protocols were translated to become translocal tools to resist exclusion in environmental governance through two main mechanisms: connecting goals and practices and (re)connecting social networks

Monetary Policy, Global Liquidity and Commodity Price Dynamics

This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling for interest rate changes and thus different monetary policy stances, money (defined as a global liquidity aggregate) is still a key factor to determine the long-run homogeneity of commodity prices and goods prices movements. The cointegrated VAR model fits with the data for the analysed period from the 1970s until 2008 very well. Our empirical results appear to be overall robust since they pass inter alia a series of recursive tests and are stable for varying compositions of the commodity indices. The empirical evidence is in line with theoretical considerations. The inclusion of commodity prices helps to identify a significant monetary transmission process from global liquidity to other macro variables such as goods prices. We find further support of the conjecture that monetary aggregates convey useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this clear empirical pattern it appears justified to argue that global liquidity merits attention in the same way as the worldwide level of interest rates received in the recent debate about the world savings and liquidity glut as one of the main drivers of the current financial crisis, if not possibly more

Rights-based approaches: Exploring issues and opportunities for conservation

The links between human rights and biodiversity and natural resource conservation are many and complex. The conservation community is being challenged to take stronger measures to respect human rights and is taking opportunities to further their realisation. ‘Rights-based approaches’ (RBAs) to conservation are a promising way forward, but also raise a myriad of new challenges and questions, including what such approaches are, when and how they can be put into practice, and what their implications are for conservation.This volume gives an overview of key issues and questions in RBA. Rights and social justice related policies of major international organisations are reviewed. Case studies and position papers describe RBAs in a variety of contexts - protected areas, natural resource management, access and benefit-sharing regimes, and proposed reduced emissions from deforestation and forest degradation (REDD) mechanisms. No one blueprint for RBA emerges. However, there are common themes: supporting both procedural and substantive rights, linking rights and responsibilities, equalising power relations, providing capacity building for rights holders and duty bearers, and recognising and engaging with local leaders and local people. RBAs can support improved governance but are, in turn, shaped by the governance systems in which they operate, as well as by history, politics, socio-economics and culture. Experience and dialogue will add to a fuller understanding of the promises and challenges of RBAs to conservation. The aim of this volume is to contribute to that discussion