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dc.contributor.authorWaltham, Nathan J
dc.contributor.authorCanning, Adam
dc.contributor.authorSmart, James CR
dc.contributor.authorHasan, Syezlin
dc.contributor.authorCurwen, Graeme
dc.contributor.authorButler, Barry
dc.date.accessioned2021-11-17T04:25:48Z
dc.date.available2021-11-17T04:25:48Z
dc.date.issued2021
dc.identifier.urihttp://hdl.handle.net/10072/410173
dc.description.abstractThe local Riversdale-Murray Valley Water Management Scheme, and other schemes abroad, that fund the restoration of wetlands for their ecosystem services were evaluated to inform a future scheme for the GBR catchment. The Riversdale-Murray Scheme funded wetlands have improved crop yield and water quality, and support the barramundi fishery, biodiversity and landowner wellbeing. The majority of the financial benefit to farmers is likely to come from increased production from improved drainage across the farm and, to a lesser extent, elevation of low-lying fields. Improved drainage and elevation allowed increased cane productivity on land that was previously used for low production cane or cattle grazing. Many schemes seeking to financially incentivise wetland restoration for the ecosystem services they provide often struggle with achieving financial viability, establishing credibility through effective verification and accounting, and balancing trade-offs to establish and maintain a social license to operate. Future schemes funding the restoration of wetland-based ecosystem services should have clear objectives; well-informed trade-offs; centrally coordinated landscape-scale planning with strategic positioning and designs; high stakeholder engagement and indigenous partnership; pool funding for multiple ecosystem services; make bundled payments based on wetland provision rather service provisioning; provide ‘how to guides’ to landowners on wetland restoration for services; use simple, cost-effective assessments with models; and maintain an assessment and transaction database. We propose a Great Barrier Reef Catchment Wetland Investment Fund, operating as a common asset trust, to invest in a portfolio of wetland restoration projects with the overall aim of maximising the return on investment of overall ecosystem services.
dc.description.sponsorshipReef and Rainforest Research Centre
dc.publisherReef and Rainforest Research Centre on behalf of the Australian Government’s National Environmental Science Program (NESP) Tropical Water Quality (TWQ) Hub.
dc.publisher.placeNESP Tropical Water Quality Hub
dc.publisher.urihttps://nesptropical.edu.au/wp-content/uploads/2021/06/4.10-Final-Report_COMPLETE.pdf
dc.subject.fieldofresearchAgricultural land management
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchEnvironmental management
dc.subject.fieldofresearchcode300202
dc.subject.fieldofresearchcode3801
dc.subject.fieldofresearchcode4104
dc.titleFinancial incentive schemes to fund wetland restoration across the GBR catchment
dc.typeReport
dc.type.descriptionU1_1 - Public sector
dcterms.bibliographicCitationWaltham, NJ; Canning, A; Smart, JCR; Hasan, S; Curwen, G; Butler, B, Financial incentive schemes to fund wetland restoration across the GBR catchment, 2021
dcterms.licensehttps://creativecommons.org/licenses/by/4.0/
dc.date.updated2021-11-17T03:25:25Z
dc.description.versionVersion of Record (VoR)
gro.rights.copyright© James Cook University, 2021. This is an Open Access article distributed under the terms of the Creative Commons Attribution 4.0 International License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
gro.hasfulltextFull Text
gro.griffith.authorHasan, Syezlin B.
gro.griffith.authorSmart, Jim C.
gro.griffith.authorCurwen, Graeme R.


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