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Business strategies for conservation on private lands: Koa forestry as a case study.

ABSTRACT: Innovative financial instruments are being created to reward conservation on private, working lands. Major design challenges remain, however, to make investments in biodiversity and ecosystem services economically attractive and commonplace. From a business perspective, three key financial barriers for advancing conservation land uses must frequently be addressed: high up-front costs, long time periods with no revenue, and high project risk due to long time horizons and uncertainty. We explored ways of overcoming these barriers on grazing lands in Hawaii by realizing a suite of timber and conservation revenue streams associated with their (partial) reforestation. We calculated the financial implications of alternative strategies, focusing on Acacia koa ("koa") forestry because of its high conservation and economic potential. Koa's timber value alone creates a viable investment (mean net present value = $453/acre), but its long time horizon and poor initial cash flow pose formidable challenges for landowners. At present, subsidy payments from a government conservation program targeting benefits for biodiversity, water quality, and soil erosion have the greatest potential to move landowners beyond the tipping point in favor of investments in koa forestry, particularly when combined with future timber harvest (mean net present value = $1,661/acre). Creating financial mechanisms to capture diverse ecosystem service values through time will broaden opportunities for conservation land uses. Governments, nongovernmental organizations, and private investors have roles to play in catalyzing this transition by developing new revenue streams that can reach a broad spectrum of landowners.

SUBMITTER: Goldstein JH

PROVIDER: S-EPMC1502519 | biostudies-literature | 2006 Jun

REPOSITORIES: biostudies-literature

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Business strategies for conservation on private lands: Koa forestry as a case study.

Goldstein Joshua H JH Daily Gretchen C GC Friday James B JB Matson Pamela A PA Naylor Rosamond L RL Vitousek Peter P

Proceedings of the National Academy of Sciences of the United States of America 20060616 26

Innovative financial instruments are being created to reward conservation on private, working lands. Major design challenges remain, however, to make investments in biodiversity and ecosystem services economically attractive and commonplace. From a business perspective, three key financial barriers for advancing conservation land uses must frequently be addressed: high up-front costs, long time periods with no revenue, and high project risk due to long time horizons and uncertainty. We explored ...[more]

PMID: 16782816

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Project description:Public lands in the United States are those land areas managed by federal, state, and county governments for public purposes such as preservation and recreation. Protecting carbon resources and increasing carbon sequestration capacity are compatible with public land management objectives for healthy and resilient habitats, i.e., managing habitats for the benefit of wildlife and ecosystem services can simultaneously capture and store carbon. To evaluate the effect of public land management on carbon storage and review carbon management as part of the land management objectives, we used existing data of carbon stock and net ecosystem carbon balance in a study of the National Wildlife Refuge System (NWRS), a public land management program of the U.S. Fish and Wildlife Service (Service). Total carbon storage of the 364 refuges studied was 16.6 PgC, with a mean value 42,981 gCm-2. We used mixed modeling with Bonferroni adjustment techniques to analyze the effect of time since refuge designation on carbon storage. In general, older refuges store more carbon per unit area than younger refuges. In addition to the age factor, carbon resources are variable by regions and habitat types protected in the refuges. Mean carbon stock and the rate of sequestration are higher within refuges than outside refuges, but the statistical comparison of 364 refuges analyzed in this study was not significant. We also used the social cost of carbon to analyze the annual benefits of sequestrating carbon in these publicly managed lands in the United States, which is over $976 million per year in avoided CO2 emissions via specific conservation management actions. We examine case studies of management, particularly with respect to Service cooperation activities with The Conservation Fund (TCF) Go Zero® Program, Trust for Public Land (TPL) and individuals. Additional opportunities exist in improving techniques to maximize carbon resources in refuges, while continuing to meet the core purpose and need of the NWRS.

Project description:Conservation decisions should be evaluated for how they meet conservation goals at multiple spatial extents. Conservation easements are land use decisions resulting from a combination of social and environmental conditions. An emerging area of research is the evaluation of spatial distribution of easements and their spatial correlates. We tested the relative influence of interacting social and environmental variables on the spatial distribution of conservation easements by ownership category and conservation status. For the Appalachian region of the United States, an area with a long history of human occupation and complex land uses including public-private conservation, we found that settlement, economic, topographic, and environmental data associated with spatial distribution of easements (N = 4813). Compared to random locations, easements were more likely to be found in lower elevations, in areas of greater agricultural productivity, farther from public protected areas, and nearer other human features. Analysis of ownership and conservation status revealed sources of variation, with important differences between local and state government ownerships relative to non-governmental organizations (NGOs), and among U.S. Geological Survey (USGS) GAP program status levels. NGOs were more likely to have easements nearer protected areas, and higher conservation status, while local governments held easements closer to settlement, and on lands of greater agricultural potential. Logistic interactions revealed environmental variables having effects modified by social correlates, and the strongest predictors overall were social (distance to urban area, median household income, housing density, distance to land trust office). Spatial distribution of conservation lands may be affected by geographic area of influence of conservation groups, suggesting that multi-scale conservation planning strategies may be necessary to satisfy local and regional needs for reserve networks. Our results support previous findings and provide an ecoregion-scale view that conservation easements may provide, at local scales, conservation functions on productive, more developable lands. Conservation easements may complement functions of public protected areas but more research should examine relative landscape-level ecological functions of both forms of protection.

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Business strategies for conservation on private lands: Koa forestry as a case study.

Publications

Business strategies for conservation on private lands: Koa forestry as a case study.

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