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Of sets of offsets: Cumulative impacts and strategies for compensatory restoration

Citation

Thebaud, O and Boschetti, F and Jennings, S and Smith, ADM and Pascoe, S, Of sets of offsets: Cumulative impacts and strategies for compensatory restoration, Ecological Modelling: International Journal on Ecological Modelling and Engineering and Systems Ecology, 312 pp. 114-124. ISSN 0304-3800 (2015) [Refereed Article]

Copyright Statement

Copyright 2015 Elsevier B.V.

DOI: doi:10.1016/j.ecolmodel.2015.04.022

Abstract

Biodiversity offsets are increasingly advocated as a flexible approach to managing the ecological costs of economic development. Arguably, however, this remains an area where policy-making has run ahead of science. A growing number of studies identify limitations of offsets in achieving ecologically sustainable outcomes, pointing to ethical and implementation issues that may undermine their effectiveness. We develop a novel system dynamic modelling framework to analyze the no net loss objective of development and biodiversity offsets. The modelling framework considers a marine-based example, where resource abundance depends on a habitat that is affected by a sequence of development projects, and biodiversity offsets are understood as habitat restoration actions. The model is used to explore the implications of four alternative offset management strategies for a regulator, which differ in how net loss is measured, and whether and how the cumulative impacts of development are considered. Our results confirm that, when it comes to offsets as a conservation tool, the devil lies in the details. Approaches to determining the magnitude of offsets required, as well as their timing and allocation among multiple developers, can result in potentially complex and undesired sets of economic incentives, with direct impacts on the ability to meet the overall objective of ecologically sustainable development. The approach and insights are of direct interest to conservation policy design in a broad range of marine and coastal contexts.

Item Details

Item Type:Refereed Article
Keywords:Biodiversity offsets;
Research Division:Economics
Research Group:Economic Theory
Research Field:Microeconomic Theory
Objective Division:Environment
Objective Group:Climate and Climate Change
Objective Field:Ecosystem Adaptation to Climate Change
Author:Jennings, S (Dr Sarah Jennings)
ID Code:102430
Year Published:2015
Web of Science® Times Cited:4
Deposited By:Tasmanian School of Business and Economics
Deposited On:2015-08-20
Last Modified:2018-03-20
Downloads:0

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