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The economics of pollution trading and pricing under regulatory uncertainty

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From the world's highest mountain ranges to the lowland plains, and from the great oceans and coastal wetlands to agricultural landscapes, nations and communities rely on the bounty and services of natural ecosystems. Biological resources and the goods and ecosystem services they provide underpin every aspect of human life and livelihoods, from food and water security to general well-being and spiritual fulfillment. Sub-Saharan Africa is particularly well endowed by rich biodiversity resources that represent tremendous wealth at the local, regional, and international levels. Yet these resources are increasingly under pressure and threat due to land use change, rapid urbanization, poorly planned infrastructure development and resource extraction, illegal logging, wildlife poaching and trade, and other factors. In Sub-Saharan Africa, the World Bank has been a major global funder and supporter of biodiversity conservation in the past decades. Projects and programs supported by the Bank and often co-financed with the Global Environment Facility (GEF) span across 36 countries and more than 100 projects. They have helped establish and manage globally important protected areas, introduce policies and regulations for the sustainable management of resources, reform institutions, support communities' conservation and sustainable management efforts, develop innovative financing mechanisms, and mainstream biodiversity conservation within the production landscape and in economic sectors. This report reviews the World Bank support to biodiversity conservation in Sub-Saharan Africa over the past decade (2003-2012), and presents key lessons and directions for the Bank's future biodiversity-related investments. The Africa region is presently undergoing a fundamental transformation. With a firm focus on biodiversity as a component of inclusive green growth, the World Bank is well positioned to continue and strengthen its role as a leading supporter of African countries' conservation efforts

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