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Trading water to improve environmental flow outcomes
Authors
Adam Loch
Baker
+35 more
Bauer
Bjornlund
Brad Franklin
Chen
Connor
Cummings
Dreverman
Easter
Garrick
Garrick
Grafton
Hadjigeorgalis
Hansen
Hayward
Howe
Howitt
Iftekhar
Jeffery D. Connor
Kirby
Lane-Miller
Mac Kirby
Michelsen
Murray-Darling Basin Authority (MDBA)
National Water Commission (NWC)
National Water Commission (NWC)
Overton
Peterson
Pulido-Velazquez
Quiggin
Sarah Ann Wheeler
Scarborough
Svendsen
Tisdell
Wheeler
Wheeler
Publication date
1 January 2013
Publisher
'Wiley'
Doi
Cite
Abstract
As consumptive extractions and water scarcity pressures brought about by climate change increase in many world river basins, so do the risks to water-dependent ecological assets. In response, public or not for profit environmental water holders (EWHs) have been established in many areas and bestowed with endowments of water and mandates to manage water for ecological outcomes. Water scarcity has also increasingly spawned water trade arrangements in many river basins, and in many instances, EWHs are now operating in water markets. A number of EWHs, especially in Australia, begin with an endowment of permanent water entitlements purchased from irrigators. Such water entitlements typically have relatively constant interannual supply profiles that often do not match ecological water demand involving flood pulses and periods of drying. This article develops a hydrologic-economic simulation model of the Murrumbidgee catchment within the Murray-Darling Basin to assess the scope of possibilities to improve environmental outcomes through EWH trading on an annual water lease market. We find that there are some modest opportunities for EWHs to improve environmental outcomes through water trade. The best opportunities occur in periods of drought and for ecological outcomes that benefit from moderately large floods. We also assess the extent to which EWH trading in annual water leases may create pecuniary externalities via bidding up or down the water lease prices faced by irrigators. Environmental water trading is found to have relatively small impacts on water market price outcomes. Overall our results suggest that the benefits of developing EWH trading may well justify the costs. © 2013. American Geophysical Union. All Rights Reserved.Jeffery D. Connor, Brad Franklin, Adam Loch, Mac Kirby, Sarah Ann Wheele
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info:doi/10.1002%2Fwrcr.20323
Last time updated on 05/06/2019
Adelaide Research & Scholarship
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oai:digital.library.adelaide.e...
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