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Vol. 1, No. 4: March 3, 2005
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The Ecosystem Marketplace (EM) was set up to monitor emerging markets and market-like instruments designed to protect ecosystem services. But what are these ecosystem services and how broad—or how narrow—should our focus be? This has been the subject of numerous discussions here at the EM, and the truth is that we still don't have a perfect answer. In lieu of certainty, we have decided to be broad, to look at the wide variety of possible services that ecosystems provide and to pay close attention to various attempts to pay for or market these services. Clearly climate regulation is the most advanced of the existing markets in ecosystem services, and many of the stories you will find in the Ecosystem Marketplace (particularly under current news) have to do with the emerging carbon market, in particular the European Emissions Trading Scheme (EU-ETS). But we have also been looking at less well-known markets such as the market for wetland mitigation and conservation credits in the US (click here for a story on wetland mitigation and here for one on conservation banking). And in the past couple of months we have also looked at emerging markets and payment schemes for genetic resources (click here), organic foods (click here), conservation easements (click here) and, water pollution (click here).
Building on this trend, this issue of the Marketplace newsletter contains two articles that look at a very important ecosystem service for which there is currently not a well-developed market (pollination, click here), as well as how one country (South Africa) is approaching the creation of payment schemes for ecosystem services—a process they refer to as "ecosystem farming"—in a way that may one day result in the creation of true markets in these services (click here). We hope you find these articles of interest and look forward to hearing from you on the depth and breadth of our coverage. If you would like to contact us for any reason, feel free to write us at rbayon@yahoo.com. We look forward to keeping you abreast of these emerging markets in ecosystem services.
- Ricardo Bayon, Adam Davis, and Michael Jenkins
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by Alice Kenny
Pollination is not only one of the most important ecosystem services for agriculture, it may also be one of the most marketable. Indeed, as farmers look to lessen their dependence on the honeybee in the United States, many are watching closely to see if a buck can be made investing in one of the newest, or rather oldest, of ecosystem services in the country—native bee pollination. The Ecosystem Marketplace takes a look at the successes and challenges of some of the market's early pioneers.
by Amanda Hawn
Following its success with an innovative "Working for Water" program, South Africa has begun experimenting with a whole new approach to conservation and restoration; an approach that has scientists "mapping" ecosystem services and land-users "farming" them. The Ecosystem Marketplace takes a closer look at these recent developments and considers whether or not "trading" will be the next new verb for ecosystem services in the RSA.
by Eric Rosenbaum
Although the Bush administration steadfastly refuses to sign onto the Kyoto Protocol, nine states in the Northeastern US are setting up the Regional Greenhouse Gas Initiative (RGGI)—the first regional carbon cap and trade program proposed in the US. In doing so, they have completely transformed their view of carbon offsets over the last eighteen months. The Ecosystem Marketplace takes a look at how and why carbon offsets have gone from policy dog to policy darling in such a short period of time and considers whether or not the evolving offsets model might become the chief legacy of the RGGI in the years to come.
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