I noted PES and REDD as recent mechanisms that was built to protect environmental services. However, some parties have developed similar mechanism with various approaches or addressing more issues on local people’s livelihood. Such mechanisms allow resources transfer from different parties who have also different capabilities.
Here I put another financial mechanism –known as Bio-right that aims to address poverty issues and environmental degradation. This mechanism stands in the area where widely known that poverty has to do with environmental problems or vice versa. The linkage is more complex and varies from countries to countries. What make different Bio-rights mechanism with PES or REDD?
Bio-rights financial mechanism has been established by Wetland International (WI) and Alterra in response to improve past mechanism of linking conservation and development. The newer mechanism, based on lesson learnt, internalizes economic values of ecosystem service
s into markets. WI says:
This can generate significant funding for environmental conservation and allows for the development of trading systems in which resource users provide payments to resource owners in return for the sustained provision of certain goods and services
Some green incentives may provide finanancial transfers through rewards or payments. In the bio-rights mechanism, financial incentive
is micro-credit that provided to local communities in return for community involvement in conservation. In book of Bio-rights in theory and practices, WI guides three powerful steps accomplishing people involvement in the preservation of environmental assets :
- Local communities receives micro-credits to develop sustainable income generating activities
- Community repay their loan and the associated interest in the form of conservation services, such as reforestation etc
- Micro-credi ts are converted into definitive payments and subsequently into community-based revolving funds for sustainable development, once the conservation measures prove successful and sustainable
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