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Supplementing REDD+ with Biodiversity Payments: The Paradox of Paying for Multiple Ecosystem Services - Working Paper 347

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  • Jonah Busch

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    Abstract

    An international mechanism to reduce emissions from deforestation using carbon payments (REDD+) can be leveraged to make payments for forests’ biodiversity as well. Paradoxically, under conditions consistent with emerging REDD+ programs, money spent on a mixture of carbon payments and biodiversity payments has the potential to incentivize the provision of greater climate benefits than an equal amount of money spent only on carbon payments. This paradoxical result arises when diversifying payments across multiple services allows a funding agency to spend less on additional rents to existing suppliers of avoided deforestation and more on incentivizing the participation of new suppliers.

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    Bibliographic Info

    Paper provided by Center for Global Development in its series Working Papers with number 347.

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    Length: 32 pages
    Date of creation: Nov 2013
    Date of revision:
    Handle: RePEc:cgd:wpaper:347

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    Web page: http://www.cgdev.org

    Related research

    Keywords: Biodiversity conservation; climate change; deforestation; payments for ecosystem services (PES);

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    1. Marc N. Conte & Matthew J. Kotchen, 2009. "Explaining the Price of Voluntary Carbon Offsets," NBER Working Papers 15294, National Bureau of Economic Research, Inc.
    2. Börner, Jan & Wunder, Sven & Wertz-Kanounnikoff, Sheila & Tito, Marcos Rügnitz & Pereira, Ligia & Nascimento, Nathalia, 2010. "Direct conservation payments in the Brazilian Amazon: Scope and equity implications," Ecological Economics, Elsevier, vol. 69(6), pages 1272-1282, April.
    3. Lykke Andersen & Jonah Busch & Elizabeth Curran & Juan Carlos Ledezma & Joaquín Mayorga & Mélissa Bellier, 2012. "Environmental and socio-economic consequences of forest carbon payments in Bolivia: Results of the OSIRIS-Bolivia model," Development Research Working Paper Series 02/2012, Institute for Advanced Development Studies.
    4. Gary Stoneham & Vivek Chaudhri & Arthur Ha & Loris Strappazzon, 2003. "Auctions for conservation contracts: an empirical examination of Victoria's BushTender trial," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), pages 477-500, December.
    5. Ferraro, Paul J., 2008. "Asymmetric information and contract design for payments for environmental services," Ecological Economics, Elsevier, vol. 65(4), pages 810-821, May.
    6. Stoneham, Gary & Chaudhri, Vivek & Ha, Arthur & Strappazzon, Loris, 2003. "Auctions for conservation contracts: an empirical examination of Victoria’s BushTender trial," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), December.
    7. Cattaneo, Andrea & Hellerstein, Daniel & Nickerson, Cynthia J. & Myers, Christina, 2006. "Balancing the Multiple Objectives of Conservation Programs," Economic Research Report 7257, United States Department of Agriculture, Economic Research Service.
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    Cited by:
    1. Gary D. Libecap, 2014. "Addressing Global Environmental Externalities: Transaction Costs Considerations," Journal of Economic Literature, American Economic Association, vol. 52(2), pages 424-79, June.

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