EcoMarkets
What are ecoMarkets?
“ecoMarkets is the term used to describe a range of market-based systems aimed at addressing environmental decline. In general terms, it describes a world-leading approach being developed and applied by the Victorian Government to improve the health of the environment.
The need for ecoMarkets has never been more apparent. Climate change, increased urbanisation of land and the pressures of commercial agriculture in addition to the continuing threats posed by pest plants and animals are all placing greater pressure on our natural environment. A new approach to this problem is needed – one that makes a real difference.
The main function of ecoMarkets is to provide incentives for private landholders, who own 65% of Victoria’s land, to manage their land in ways that conserve and enhance the environment. Landholders will be able to earn income from ecoMarkets if they are able to provide environmental improvements in a cost-effective way.
BushTender, EcoTender and BushBroker are examples of ecoMarkets that have had significant positive impacts on environmental quality on private land. BushTender and EcoTender adopt auction-based approaches, while BushBroker is a system of tradeable credits…”
Source: DSE – EcoMarkets
