Submission
ID 5302
Submitting Entity Organization for Economic Co-operation and Development
Submitted for Fifth Ordinary Meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 5)
 
Main Information
Title A revolving fund for biodiversity conservation in Australia
Description The study examines the role played by the Revolving Fund for Nature, administered by the Trust for Nature (Victoria), in the protection of lands of conservation significance, particularly those with remnant or heritage vegetation. The Revolving Fund purchases lands with conservation significance, places a covenant on them specifying the allowable and 
prohibited activities that can be undertaken on them, thus ensuring the future maintenance of the identified conservation values, and resells the lands to a sympathetic private owner whose use of the lands will be bound by the covenant. The regained capital is then used to finance the purchase of further lands, which again have a covenant placed on them before resale to sympathetic purchasers and the process is repeated again. The success of the 
Fund relies largely on its ability to recapture all or most of the original capital purchase cost for the lands, and to pass on responsibility for land management to owners who are committed to a conservation ethic. The Fund is unique in that the Trust for Nature was formed through government legislation and is provided with some public funding but also attracts funds from non-government sources.
Web Link /doc/case-studies/inc/cs-inc-oecd-16-en.doc
 
Additional Information
Source Study prepared for and summarized in the 1999 OECD Handbook on Incentive Measures for Biodiversity: Design and Implementation. Oganization for Economic Cooperation and Development, Paris.
Countries Australia
Ecosystems Agricultural Biodiversity
Dry and Sub-Humid Lands Biodiversity
Forest Biodiversity
Inland Waters Biodiversity
Regions Western Europe and Others
Incentive Measures Environmental Funds / Investments
Positive Incentives (subsidies, tax breaks, ...)
Regulations / Access Restrictions
Keywords Access restrictions
Compensation for loss of use
Conservation payments
Environmental funds
Land set-aside payments
Land-use covenants and certification
 
 
  • United Nations
  • United Nations Environment Programme