Blueprint Paper 1: Using Markets to Conserve Natural Capital

Using Markets to Conserve Natural Capital describes opportunities to mobilise people and markets at the scale needed to create a healthy environment with a productive economy. It is the first paper in a series that elaborates on institutional and economic reforms in Blueprint for a Healthy Environment and Productive Economy.

In this paper, the Wentworth Group of Concerned Scientists describes four key opportunities for reform: (1) apply a duty of care to prevent further environmental damage, (2) set a long-term emissions reduction target with a price on carbon, (3) eliminate fossil fuel subsidies and introduce an equitable, broad-based land tax to encourage transformation of the way we manage the Australian landscape, and (4) develop voluntary, industry-based farm certification so that farmers can receive benefits for managing their farms sustainably. We describe the benefits of these reforms and how each of these reforms can contribute to a healthy environment and a productive economy.

Authors

Wentworth Group of Concerned Scientists

In Consultation with

Dr Guy Fitzhardinge AM, Prof Quentin Grafton FASSA, Dr Ken Henry AC FASSA, Mr Max Kitchell, Prof Darryl Low Choy AM MBE RFD FEIANZ, Ms Ilona Millar, and The Hon Paul Stein AM QC

Acknowledgments

Paula Steyer, Celine Steinfeld, Brad Tucker, and Rachel Walmsley