Financing mechanisms that advance ecosystem service markets and promote rural sustainability Public Deposited

http://ir.library.oregonstate.edu/concern/defaults/vx021j81p

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  • Ecosystem services markets represent potential revenue streams for small- and medium-scale rural agricultural and forest producers, many of whom have faced significant economic downturns over the past several decades. Demand for ecosystem services (ES) in the form of investments by public agencies, mitigation funds from regulated entities, and voluntary payments from corporations and individuals will require credits predominantly supplied by rural areas. Participation on the supply side entails high transaction costs and financial risks that may, however, discourage many rural landowners from participating in projects that would generate supply credits. The project purpose was to explore rural landowner financing needs for ES projects in the growing marketplace. The Institute for Natural Resources (INR) explored those issues in two phases. Phase I entailed preliminary identification of the range of financial approaches for payments for ecosystem services (PES) projects. That was followed by a December 1, 2009, workshop which brought together financial industry professionals along with non-governmental and government leaders active in developing ecosystem services markets to discuss the challenges and opportunities for financing ES projects. Workshop findings from Phase I, entailing participation by financial experts, helped inform the investigation for Phase II involving rural landowners. Phase II combined multiple approaches including focus groups, case studies and a pilot project evaluation.
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  • EXECUTIVE SUMMARY.....................................................................................................................................III 1. INTRODUCTION........................................................................................................................................1 2. GALES CREEK ECOSYSTEM SERVICES CREDIT AND RESTORATION PROJECT.................4 2.1 FINANCIAL FLOWS IN THE GALES CREEK PROJECT..............................................................................................4 2.2 CONCEPTUAL FRAMEWORK................................................................................................................................6 2.3 THE LANDOWNERS’ FINANCIAL EXPERIENCE......................................................................................................7 2.4 PERSONAL FINANCE CONTEXT..........................................................................................................................12 2.5 IMPLICATIONS FOR OTHER PROJECTS.................................................................................................................12 3. WILLAMETTE VALLEY FOCUS GROUPS.........................................................................................13 3.1 THE FOCUS GROUPS..........................................................................................................................................13 3.2 FINDINGS...........................................................................................................................................................16 3.3 CONCLUSIONS...................................................................................................................................................17 4. INCENTIVES AND FINANCING FOR ECOSYSTEM SERVICES IN CENTRAL OREGON........18 The Economic Benefits of Ecosystems................................................................................................................19 The Ecosystem “Marketplace”..........................................................................................................................20 Central Oregon..................................................................................................................................................21 4.1 ECOSYSTEM SERVICES AND CENTRAL OREGON.................................................................................................26 Ecosystem Service Production Types (Ecotypes)................................................................................................26 Ecosystem Services Scoping Assessment............................................................................................................29 Assessment Results.............................................................................................................................................35 4.2 THE ECOSYSTEM MARKETPLACE IN CENTRAL OREGON....................................................................................38 4.2.1 Land Management Incentive Programs.....................................................................................................38 4.2.2 Water Management Incentive Programs...................................................................................................46 4.2.3 Energy Management Incentive Programs..................................................................................................51 4.3 OUTREACH AND SCOPING FOR INCENTIVE MECHANISMS...................................................................................53 Case Studies.......................................................................................................................................................58 4.4 CONCLUSIONS...................................................................................................................................................65 4.5 REFERENCES.....................................................................................................................................................68 APPENDICES...........................................................................................................................................................69 A. DEFINITIONAL ISSUES.........................................................................................................................70 THE ECONOMIC BENEFITS OF ECOSYSTEMS.............................................................................................................70 ECOSYSTEM SERVICES: THE CRUX OF THE ISSUE.....................................................................................................70 COMPETING NOTIONS OF ECOSYSTEM SERVICES.....................................................................................................71 ECOSYSTEMS AND BIODIVERSITY: PUTTING IT ALL TOGETHER................................................................................72 B. THE ECOSYSTEM “MARKETPLACE”................................................................................................74 ECOSYSTEMS, PUBLIC GOODS AND MARKET FAILURE............................................................................................74 FIXING MARKET FAILURE: INCENTIVE MECHANISMS AND THE ECOSYSTEM MARKETPLACE..................................75
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  • description.provenance : Approved for entry into archive by Kuuipo Walsh(kuuipo.walsh@oregonstate.edu) on 2010-07-22T20:05:10Z (GMT) No. of bitstreams: 1 Bullitt Phase II Final 100708.pdf: 2982019 bytes, checksum: 05ca6248e071d729153239f794d9ed03 (MD5)
  • description.provenance : Submitted by Amy Ewing (ewinga@onid.orst.edu) on 2010-07-12T18:38:07Z No. of bitstreams: 1 Bullitt Phase II Final 100708.pdf: 2982019 bytes, checksum: 05ca6248e071d729153239f794d9ed03 (MD5)
  • description.provenance : Made available in DSpace on 2010-07-22T20:05:10Z (GMT). No. of bitstreams: 1 Bullitt Phase II Final 100708.pdf: 2982019 bytes, checksum: 05ca6248e071d729153239f794d9ed03 (MD5) Previous issue date: 2010-06

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