Private lands for biodiversity conservation: Review of conservation covenanting programs in Tasmania, Australia
Iftekhar, MS and Tisdell, JG and Gilfedder, L, Private lands for biodiversity conservation: Review of conservation covenanting programs in Tasmania, Australia, Biological Conservation, 169 pp. 176-184. ISSN 0006-3207 (2014) [Refereed Article]
Copyright 2013 Published by Elsevier Ltd. All rights reserved
Conservation covenanting has become an important policy tool in promoting biodiversity conservation on private lands. Existing studies to date have focused either on the economic performance of speciﬁc programs or the ecological performances of conservation programs. There is a lack of comprehensive economic analysis of private land covenant policies at a wider regional level using long-term data, particularly in Australia. In this paper, we analyse a range of institutional and ecological factors affecting three main attributes (size, ﬁnancial incentive and conservation value
scores) of covenants in Tasmania, Australia. Institutional factors include project selection and
tender-based mechanisms. While the project selection mechanism (tender vs. negotiation) does not
inﬂuence the average size of the covenant, the choice of tender-based selection mechanism increases the incentive payment of securing covenants signiﬁcantly. Covenants with an active management requirement may require a higher rate of incentive payment. It is also found that landholders were more likely to enroll areas with higher ecological values for higher incentive payment. These results have signiﬁcant implications for the design of future
programs not just in Australia but throughout the world.