Business strategies for conservation on private lands: Koa forestry as a case study

被引:35
作者
Goldstein, Joshua H.
Daily, Gretchen C.
Friday, James B.
Matson, Pamela A.
Naylor, Rosamond A.
机构
[1] Stanford Univ, Interdisciplinary Grad Program Environm & Resourc, Stanford, CA 94305 USA
[2] Stanford Univ, Dept Biol Sci, Stanford, CA 94305 USA
[3] Univ Hawaii, Coll Trop Agr & Human Resources, Dept Nat Resources & Environm Management, Hilo, HI 96720 USA
[4] Stanford Univ, Dept Geol & Environm Sci, Stanford, CA 94305 USA
[5] Stanford Univ, Ctr Environm Sci & Policy, Stanford, CA 94305 USA
关键词
biodiversity; conservation finance; ecosystem services; Hawaii;
D O I
10.1073/pnas.0600391103
中图分类号
O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];
学科分类号
07 ; 0710 ; 09 ;
摘要
Innovative financial instruments are being created to reward conservation on private, working lands. Major design challenges remain, however, to make investments in biodiversity and ecosystem services economically attractive and commonplace. From a business perspective, three key financial barriers for advancing conservation land uses must frequently be addressed: high up-front costs, long time periods with no revenue, and high project risk due to long time horizons and uncertainty. We explored ways of overcoming these barriers on grazing lands in Hawaii by realizing a suite of timber and conservation revenue streams associated with their (partial) reforestation. We calculated the financial implications of alternative strategies, focusing on Acacia koa ("koa") forestry because of its high conservation and economic potential. Koa's timber value alone creates a viable investment (mean net present value = $453/acre), but its long time horizon and poor initial cash flow pose formidable challenges for landowners. At present, subsidy payments from a government conservation program targeting benefits for biodiversity, water quality, and soil erosion have the greatest potential to move landowners beyond the tipping point in favor of investments in koa forestry, particularly when combined with future timber harvest (mean net present value = $1,661/acre). Creating financial mechanisms to capture diverse ecosystem service values through time will broaden opportunities for conservation land uses. Governments, nongovernmental organizations, and private investors have roles to play in catalyzing this transition by developing new revenue streams that can reach a broad spectrum of landowners.
引用
收藏
页码:10140 / 10145
页数:6
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