Monday, July 7, 2008

BushTender program = PES

Payment for Ecosystem Services (PES) has a different name in Victoria, aka, BushTender program. Not only the name is refreshing, they also use auction as a mechanism to secure private land managment agreements. From the project website,

Auctions are a mechanism that can reveal hidden information (i.e. information important for decision-makers that was previously not known or shared) so that better investment decisions can be made. They require landholders to reveal their information on preferred actions and associated costs and the government to reveal its preferences for biodiversity assets and actions. The scoring mechanism can be designed to accommodate the variable benefits from site to site."

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