A straightforward approach to conservation

The private and public fundraiser Payments for Ecosystem Services has no luster

Benefits to protect biodiversity and sustainable use include biodiversity taxes, fees, taxes, trade permits, and Ecosystem Service Fees (PES). With these economic tools, governments can affect both the social and economic flows of biodiversity. The promotion of biodiversity funding through pesticide tax, nature reserve fees, hunting and fishing permit funds, and energy-saving trade certificates have received government and political support, but the promotion of private and public PES funding is meaningless. .

Lack of academic research, government support, and politics will worry environmental economists. Despite the solid foundation of theory and the ability to integrate direct investment into outcomes, the debate revolves around the same issues from two decades: making money on environmental benefits, lack of supplementation (how much environmental service could be provided without conditional payments), and so on. In this article, I answer that this is a missed or hidden opportunity to fund biodiversity in India.

Expanding ecosystem resources

PES is one of the ways to save and expand ecosystem resources. It deals with the establishment of employment contracts. People who can help provide the desired ecosystem service are rewarded based on their actions, or the value and quality of the services themselves. PES highlights the unique scope of encouraging local landowners to manage endangered ecosystems. It has the potential to achieve two goals of conservation and poverty alleviation in order to achieve the Sustainable Development Goals. This places PES as one of the most important economic tools in conservation.

However, the PES has not yet received much attention in research or policy authority on the Indian subcontinent. This is in stark contrast to the successful implementation of PES in Latin American and African countries. In the Western Cape, South Africa, the CapeNature Stewardship Program protects biodiversity in the private sector. Kitengela, Kenya’s Wildlife Conservation Lease Program, maintains open wildlife sanctuaries and pastures for personal reasons. In terms of fundraising, PES programs such as Pago Por Servicios of Costa Rica and Socio Bosque of Ecuador were among the few key fundraisers.

Why are such economic stimulus measures not finding priorities in education, research, and policy? A research paper published in Science by Ferraro and Kiss in 2002 states that any successful PES program is one that overcomes implementation barriers. Such limitations include a strong institutional approach that is able to transfer funds simultaneously from buyers to suppliers, to invest in local capacity building, cost effectiveness, scope of development benefits, and maintaining financial stability. Location monitoring is the key to successfully implementing a PES system. A study (Sardana 2019) conducted in the Kodagu district of Karnataka to restore indigenous trees that grow in the area under coffee plantations shows an institutional approach successfully designed for the use of PES. However, the PES method will still be used or tested. The results of such research provide support for potential research funding in restitution funding. Impact studies that test the effectiveness of financial instruments in finding biodiversity are also important. OECD (2019) Biodiversity: Finance and the State of the Economy and Business Act highlight the importance of evaluating the effectiveness of financial instruments in achieving biological goals. According to a recent OECD study, few studies have conducted a comprehensive impact study on terrestrial biodiversity and a few marine / marine biodiversity species. The OECD represents a comprehensive impact assessment and strategic planning process to help determine which policies or efforts need further consideration.

In addition, a strong policy objective, such as the TEEB India Initiative highlighting the economic consequences of biodiversity loss, could help to prioritize ecosystem recovery funding through a direct approach. An international initiative such as the United Nations Environment Program Initiative to mobilize private industry funds for the benefit of the people and the environment can help save funds. The cheapest way to receive anything you want is to pay for it directly. This will allow the country to fulfill its national obligations in achieving the 2030 sustainable development agenda and the Paris Agreement on climate change.