Social and economic value of protected areas

2 03 2015
© P. Crowley/"mokolabs" via Flickr

© P. Crowley/”mokolabs” via Flickr

I’ve just come across an exceptionally important paper published recently in PLoS Biology by a team of venerable conservation biologists led by the eminent Andy Balmford of the University of Cambridge. My first response was ‘Holy shit’, and now that I contemplate the results further, I can now update that sentiment to ‘Holy shit!’.

Most people reading this blog wouldn’t bother questioning the importance of protected areas for the preservation of biodiversity – for them, it’s a given. While the effectiveness of protected areas globally is highly variable in that regard, there’s little contention among conservationists that we do not yet have enough of them to conserve biodiversity effectively, especially in the oceans that cover some 70% of the planet’s surface.

But that justification isn’t good enough for some people – perhaps even the majority. Even our own myopic, anti-environment political bungler Prime Minister has stated publicly that national parks just ‘lock up‘ areas to the exclusion of much more important things like jobs and income generation. He’s even stated that Australia has ‘too many‘ national parks already, and that timber workers are “the ultimate conservationists“. As I type those words, I can feel the bile accumulating in my throat. Read the rest of this entry »





It’s time for environmentalists to give nuclear a fair go

16 12 2014

This is an article by Barry Brook and mepublished today in The Conversation. I’m republishing it here.

Should nuclear energy be part of Australia’s (and many other countries’) future energy mix? We think so, particularly as part of a solution to reduce greenhouse gas emissions and prevent dangerous climate change.

But there are other reasons for supporting nuclear technology. In a paper recently published in Conservation Biology, we show that an energy mix including nuclear power has lowest impact on wildlife and ecosystems — which is what we need given the dire state of the world’s biodiversity.

In response, we have gathered signatures of 70 leading conservation scientists from 14 countries in an open letter asking that the environmental community:

weigh up the pros and cons of different energy sources using objective evidence and pragmatic trade-offs, rather than simply relying on idealistic perceptions of what is ‘green’.

Energy demand is rising

Modern society is a ceaseless consumer of energy, and growing demand won’t stop any time soon, even under the most optimistic energy-efficiency scenario.

Although it goes without saying that we must continue to improve energy efficiency in the developed world, the momentum of population growth and rising living standards, particularly in the developing world, means we will continue to need more energy for decades to come. No amount of wishful thinking for reduced demand will change that.

But which are the best forms of energy to supply the world, and not add to the biodiversity crisis?

Assessing our energy options

In short, the argument goes like this.

To avoid the worst ravages of climate change, we have to decarbonise fully (eliminate net carbon emissions from) the global electricity sector. Wildlife and ecosystems are threatened by this climate disruption, largely caused by fossil-fuel derived emissions.

But they are also imperilled by land transformation (i.e., habitat loss) caused in part by other energy sources, such as flooded areas (usually forests) for hydro-electricity and all the associated road development this entails, agricultural areas needed for biofuels, and large spaces needed for wind and solar farms.

Energy density of different fuels. This infographic shows the amount of energy embodied in uranium, coal, natural gas and a chemical battery, scaled to provide enough energy for a lifetime of use in the developed world. Shown are the amount of each source needed to provide same amount of energy, equivalent to 220 kWh of energy per day for 80 years.

Read the rest of this entry »





An Open Letter to Environmentalists on Nuclear Energy

15 12 2014

nuclear biodiversityProfessor Barry W. Brook, Chair of Environmental Sustainability, University of Tasmania, Australia. barry.brook@utas.edu.au

Professor Corey J.A. Bradshaw, Sir Hubert Wilkins Chair of Climate Change, The Environment Institute, The University of Adelaide, Australia. corey.bradshaw@adelaide.edu.au

An Open Letter to Environmentalists:

As conservation scientists concerned with global depletion of biodiversity and the degradation of the human life-support system this entails, we, the co-signed, support the broad conclusions drawn in the article Key role for nuclear energy in global biodiversity conservation published in Conservation Biology (Brook & Bradshaw 2014).

Brook and Bradshaw argue that the full gamut of electricity-generation sources—including nuclear power—must be deployed to replace the burning of fossil fuels, if we are to have any chance of mitigating severe climate change. They provide strong evidence for the need to accept a substantial role for advanced nuclear power systems with complete fuel recycling—as part of a range of sustainable energy technologies that also includes appropriate use of renewables, energy storage and energy efficiency. This multi-pronged strategy for sustainable energy could also be more cost-effective and spare more land for biodiversity, as well as reduce non-carbon pollution (aerosols, heavy metals).

Given the historical antagonism towards nuclear energy amongst the environmental community, we accept that this stands as a controversial position. However, much as leading climate scientists have recently advocated the development of safe, next-generation nuclear energy systems to combat global climate change (Caldeira et al. 2013), we entreat the conservation and environmental community to weigh up the pros and cons of different energy sources using objective evidence and pragmatic trade-offs, rather than simply relying on idealistic perceptions of what is ‘green’.

Although renewable energy sources like wind and solar will likely make increasing contributions to future energy production, these technology options face real-world problems of scalability, cost, material and land use, meaning that it is too risky to rely on them as the only alternatives to fossil fuels. Nuclear power—being by far the most compact and energy-dense of sources—could also make a major, and perhaps leading, contribution. As scientists, we declare that an evidence-based approach to future energy production is an essential component of securing biodiversity’s future and cannot be ignored. It is time that conservationists make their voices heard in this policy arena.

Signatories (in alphabetical order)

  1. Professor Andrew Balmford, Professor of Conservation Science, Department of Zoology, University of Cambridge, United Kingdom. apb12@cam.ac.uk
  2. Professor Andrew J. Beattie, Emeritus, Department of Biological Sciences, Macquarie University, Australia. abeattie@bio.mq.edu.au
  3. Assistant Professor David P. Bickford, Department of Biological Sciences, National University of Singapore, Singapore. dbsbdp@nus.edu.sg
  4. Professor Tim M. Blackburn, Professor of Invasion Biology, Department of Genetics, Evolution and Environment, Centre for Biodiversity and Environment Research, University College London, United Kingdom. t.blackburn@ucl.ac.uk
  5. Professor Daniel T. Blumstein, Chair, Department of Ecology and Evolutionary Biology, University of California Los Angeles, USA. marmots@ucla.edu
  6. Professor Luigi Boitani, Dipartimento di Biologia, e Biotecnologie Charles Darwin, Sapienza Università di Roma, Italy. luigi.boitani@uniroma1.it
  7. Professor Mark S. Boyce, Professor and Alberta Conservation Association Chair in Fisheries and Wildlife, Department of Biological Sciences, University of Alberta, Canada. boyce@ualberta.ca
  8. Professor David M.J.S. Bowman, Professor of Environmental Change Biology, School of Biological Sciences, University of Tasmania, Australia. david.bowman@utas.edu.au
  9. Professor Scott P. Carroll, Institute for Contemporary Evolution and Department of Entomology and Nematology, University of California Davis, USA. spcarroll@ucdavis.edu
  10. Associate Professor Phillip Cassey, School of Earth and Environmental Sciences, The University of Adelaide, Australia.
  11. Professor F. Stuart Chapin III, Professor Emeritus of Ecology, Department of Biology and Wildlife, Institute of Arctic Biology, University of Alaska Fairbanks, USA. terry.chapin@alaska.edu
  12. Professor David Choquenot, Director, Institute for Applied Ecology, University of Canberra, Australia. david.choquenot@canberra.edu.au
  13. Dr Ben Collen, Centre for Biodiversity and Environment Research, University College London, United Kingdom. b.collen@ucl.ac.uk
  14. Professor Richard T. Corlett, Director, Centre for Integrative Conservation, Xishuangbanna Tropical Botanical Garden, Chinese Academy of Sciences, China. corlett@xtbg.org.cn
  15. Dr Franck Courchamp, Director of Research, Laboratoire Ecologie, Systématique et Evolution – UMR CNRS, Member of the European Academy of Sciences, Université Paris-Sud, France. franck.courchamp@u-psud.fr
  16. Professor Chris B. Daniels, Director, Barbara Hardy Institute, University of South Australia, Australia. chris.daniels@unisa.edu.au
  17. Professor Chris Dickman, Professor of Ecology, School of Biological Sciences, The University of Sydney, Australia. chris.dickman@sydney.edu.au
  18. Associate Professor Don Driscoll, College of Medicine, Biology and Environment, The Australian National University, Australia. don.driscoll@anu.edu.au
  19. Professor David Dudgeon, Chair Professor of Ecology and Biodiversity, School of Biological Sciences, The University of Hong Kong, Hong Kong SAR, China. ddudgeon@hku.hk
  20. Associate Professor Erle C. Ellis, Geography and Environmental Systems, University of Maryland, USA. ece@umbc.edu
  21. Dr Damien A. Fordham, School of Earth and Environmental Sciences, The University of Adelaide, Australia. damien.fordham@adelaide.edu.au
  22. Dr Eddie Game, Senior Scientist, The Nature Conservancy Worldwide Office, Australia. egame@tnc.org
  23. Professor Kevin J. Gaston, Professor of Biodiversity and Conservation, Director, Environment and Sustainability Institute, University of Exeter, United Kingdom. k.j.gaston@exeter.ac.uk
  24. Professor Dr Jaboury Ghazoul, Professor of Ecosystem Management, ETH Zürich, Institute for Terrestrial Ecosystems, Switzerland. jaboury.ghazoul@env.ethz.ch
  25. Professor Robert G. Harcourt, Department of Biological Sciences, Macquarie University, Australia. robert.harcourt@mq.edu.au
  26. Professor Susan P. Harrison, Department of Environmental Science and Policy, University of California Davis, USA. spharrison@ucdavis.edu
  27. Professor Fangliang He, Canada Research Chair in Biodiversity and Landscape Modelling, Department of Renewable Resources, University of Alberta, Canada and State Key Laboratory of Biocontrol and School of Life Sciences, Sun-yat Sen University, Guangzhou, China. fhe@ualberta.ca
  28. Professor Mark A. Hindell, Institute for Marine and Antarctic Studies, University of Tasmania, Australia. mark.hindell@utas.edu.au
  29. Professor Richard J. Hobbs, School of Plant Biology, The University of Western Australia, Australia. richard.hobbs@uwa.edu.au
  30. Professor Ove Hoegh-Guldberg, Professor and Director, Global Change Institute, The University of Queensland, Australia. oveh@uq.edu.au
  31. Professor Marcel Holyoak, Department of Environmental Science and Policy, University of California, Davis, USA. maholyoak@ucdavis.edu
  32. Professor Lesley Hughes, Distinguished Professor, Department of Biological Sciences, Macquarie University, Australia. lesley.hughes@mq.edu.au
  33. Professor Christopher N. Johnson, Department of Zoology, University of Tasmania, Australia. c.n.johnson@utas.edu.au
  34. Dr Julia P.G. Jones, Senior Lecturer in Conservation Biology, School of Environment, Natural Resources and Geography, Bangor University, United Kingdom. julia.jones@bangor.ac.uk
  35. Professor Kate E. Jones, Biodiversity Modelling Research Group, University College London, United Kingdom. kate.e.jones@ucl.ac.uk
  36. Dr Menna E. Jones, Department of Zoology, University of Tasmania, Australia. menna.jones@utas.edu.au
  37. Dr Lucas Joppa, Conservation Biologist, United Kingdom. lujoppa@microsoft.com
  38. Associate Professor Lian Pin Koh, School of Earth and Environmental Sciences, The University of Adelaide, Australia. lianpin.koh@adelaide.edu.au
  39. Professor Charles J. Krebs, Emeritus, Department of Zoology, University of British Columbia, Canada. krebs@zoology.ubc.ca
  40. Dr Robert C. Lacy, Conservation Biologist, USA. rlacy@ix.netcom.com
  41. Associate Professor Susan Laurance, Centre for Tropical Biodiversity and Climate Change, Centre for Tropical Environmental and Sustainability Studies, James Cook University, Australia. susan.laurance@jcu.edu.au
  42. Professor William F. Laurance, Distinguished Research Professor and Australian Laureate, Prince Bernhard Chair in International Nature Conservation, Centre for Tropical Environmental and Sustainability Science and School of Marine and Tropical Biology, James Cook University, Australia. bill.laurance@jcu.edu.au
  43. Professor Peter Ng Kee Lin, Department of Biological Sciences, National University of Singapore, Singapore. dbsngkl@nus.edu.sg
  44. Professor Thomas E. Lovejoy, Senior Fellow at the United Nations Foundation and University Professor in the Environmental Science and Policy department, George Mason University, USA. tlovejoy@unfoundation.org
  45. Dr Antony J Lynam, Global Conservation Programs, Wildlife Conservation Society, USA. tlynam@wcs.org
  46. Professor Anson W. Mackay, Department of Geography, University College London, United Kingdom. ans.mackay@ucl.ac.uk
  47. Professor Helene D. Marsh, College of Marine and Environmental Sciences, Centre for Tropical Water and Aquatic Ecosystem Research, James Cook University, Australia. helene.marsh@jcu.edu.au
  48. Professor Michelle Marvier, Department of Environmental Studies and Sciences, Santa Clara University, USA. mmarvier@scu.edu
  49. Professor Lord Robert M. May of Oxford OM AC Kt FRS, Department of Zoology, University of Oxford, United Kingdom. robert.may@zoo.ox.ac.uk
  50. Dr Margaret M. Mayfield, Director, The Ecology Centre, School of Biological Sciences, The University of Queensland, Australia. m.mayfield@uq.edu.au
  51. Dr Clive R. McMahon, Sydney Institute of Marine Science and Institute for Marine and Antarctic Studies, University of Tasmania, Australia. clive.mcmahon@utas.edu.au
  52. Dr Mark Meekan, Marine Biologist, Australia. m.meekan@aims.gov.au
  53. Dr Erik Meijaard, Borneo Futures Project, People and Nature Consulting, Denpasar, Bali, Indonesia. emeijaard@gmail.com
  54. Professor L. Scott Mills, Chancellor’s Faculty Excellence Program in Global Environmental Change, North Carolina State University, USA. lsmills@ncsu.edu
  55. Professor Atte Moilanen, Research Director, Conservation Decision Analysis, University of Helsinki, Finland. atte.moilanen@helsinki.fi
  56. Professor Craig Moritz, Research School of Biology, The Australian National University, Australia. craig.moritz@anu.edu.au
  57. Dr Robin Naidoo, Adjunct Professor, Institute for Resources, Environment, and Sustainability University of British Columbia, Canada. robin.naidoo@wwfus.org
  58. Professor Reed F. Noss, Provost’s Distinguished Research Professor, University of Central Florida, USA. reed.noss@ucf.edu
  59. Associate Professor Julian D. Olden, Freshwater Ecology and Conservation Lab, School of Aquatic and Fishery Sciences, University of Washington, USA. olden@uw.edu
  60. Professor Maharaj Pandit, Professor and Head, Department of Environmental Studies, University of Delhi, India. mkpandit@cismhe.org
  61. Professor Kenneth H. Pollock, Professor of Applied Ecology, Biomathematics and Statistics, Department of Applied Ecology, North Carolina State University, USA. pollock@ncsu.edu
  62. Professor Hugh P. Possingham, School of Biological Science and School of Maths and Physics, The University of Queensland, Australia. h.possingham@uq.edu.au
  63. Professor Peter H. Raven, George Engelmann Professor of Botany Emeritus, President Emeritus, Missouri Botanical Garden, Washington University in St. Louis, USA. peter.raven@mobot.org
  64. Professor David M. Richardson, Distinguished Professor and Director of the Centre for Invasion Biology, Department of Botany and Zoology, Stellenbosch University, South Africa. rich@sun.ac.za
  65. Dr Euan G. Ritchie, Senior Lecturer, Centre for Integrative Ecology, School of Life and Environmental Sciences, Deakin University, Australia. e.ritchie@deakin.edu.au
  66. Professor Terry L. Root, Senior Fellow, Stanford Woods Institute for the Environment, Stanford University, USA. troot@stanford.edu
  67. Dr Çağan H. Şekercioğlu, Assistant Professor, Biology, University of Utah, USA and Doçent 2010, Biology/Ecology, Inter-university Council (UAK) of Turkey. c.s@utah.edu
  68. Associate Professor Douglas Sheil, Department of Ecology and Natural Resource Management, Norwegian University of Life Sciences, Norway. douglas.sheil@nmbu.no
  69. Professor Richard Shine AM FAA, Professor in Evolutionary Biology, School of Biological Sciences, The University of Sydney, Australia. rick.shine@sydney.edu.au
  70. Professor William J. Sutherland, Miriam Rothschild Professor of Conservation Biology, Department of Zoology, University of Cambridge, United Kingdom. w.sutherland@zoo.cam.ac.uk
  71. Professor Chris D. Thomas, FRS, Department of Biology, University of York, United Kingdom. chris.thomas@york.ac.uk
  72. Professor Ross M. Thompson, Chair of Water Science, Institute of Applied Ecology, University of Canberra, Australia. ross.thompson@canberra.edu.au
  73. Professor Ian G. Warkentin, Environmental Science, Memorial University of Newfoundland, Canada. ian.warkentin@grenfell.mun.ca
  74. Professor Stephen E. Williams, Centre for Tropical Biodiversity and Climate Change, School of Marine and Tropical Biology, James Cook University, Australia. stephen.williams@jcu.edu.au
  75. Professor Kirk O. Winemiller, Department of Wildlife and Fisheries Sciences and Interdisciplinary Program in Ecology and Evolutionary Biology, Texas A&M University, USA. k-winemiller@tamu.edu

Note: Affiliations of signatories are for identification purposes, and do not imply that their organizations have necessarily endorsed this letter.

References

Brook, B. W., and C. J. A. Bradshaw. 2014. Key role for nuclear energy in global biodiversity conservation. Conservation Biology doi:10.1111/cobi.12433.

Caldeira, K., K., Emmanuel, J. Hansen, and T. Wigley. 2013. An Open Letter to those influencing environmental policy but opposed to nuclear power. CNN. http://edition.cnn.com/2013/11/03/world/nuclear-energy-climate-change-scientists-letter/index.html. (Accessed 14 March 2014).





InvaCost – estimating the economic damage of invasive insects

7 11 2014

insectinvasionThis is a blosh (rehash of someone else’s blog post) of Franck Courchamp‘s posts on an exciting new initiative of which I am excited to be a part. Incidentally, Franck’s spending the week here in Adelaide.

Don’t forgot to vote for the project to receive 50 000 € public-communication grant!

Climate change will make winters milder and habitats climatically more suitable year-round for cold-blooded animals like insects, but there are many questions remaining regarding whether such insects will be able to invade other regions as the climate shifts. There are many nasty bugs out there.

For example, the Asian predatory wasp is an invasive hornet in Europe that butchers pollinating insects, especially bees, thereby affecting the production of many wild and cultivated plants. I hope that we all remember what Einstein said about pollinators:

If bees were to disappear, humans will disappear within a few years.

(we all should remember that because it’s one of the few things he said that most of us understood). The highly invasive red fire ant is feared for its impacts on biodiversity, agriculture and cattle breeding, and the thousands of anaphylactic shocks inflicted to people by painful stings every year (with hundreds of deaths). Between the USA and Australia, over US$10 billion is spent yearly on the control of this insect alone. Tiger mosquitoes are vectors of pathogens that cause dengue fever, chikungunya virus and of about 30 other viruses. We could go on.

Most of these nasty creatures are now unable to colonise northern regions of Europe or America, or southern regions of Australia, for example, because they cannot survive cold temperatures. But how will this change? Where, when and which species will invade with rising temperatures? What will be the costs in terms of species loss? In terms of agricultural or forestry loss? In terms of diseases to cattle, domestic animals and humans? What will be the death toll if insects that are vectors of malaria can establish in new, highly populated areas?

We’ve proposed to study these and others from a list of 20 of the worst invasive insect species worldwide, and we got selected (i.e., financed!) by the Fondation BNP Paribas. In addition, the Fondation BNP Paribas has selected five scientific programmes on climate change and will give 50,000 € (that’s US$62,000) to the one selected by the public, for a communication project on their scientific programme. This is why we need you to vote for our project: InvaCost. Read the rest of this entry »





If biodiversity is so important, why is Europe not languishing?

17 03 2014

collapseI don’t often respond to many comments on this blog unless they are really, really good questions (and if I think I have the answers). Even rarer is devoting an entire post to answering a question. The other day, I received a real cracker, and so I think it deserves a highlighted response.

Two days ago, a certain ‘P. Basu’ asked this in response to my last blog post (Lose biodiversity and you’ll get sick):

I am an Indian who lived in Germany for quite a long period. Now, if I am not grossly mistaken, once upon a time Germany and other west european countries had large tracts of “real” forests with bears, wolves, foxes and other animals (both carnivore and herbivore). Bear has completely disappeared from these countries with the advent of industrialization. A few wolves have been kept in more or less artificially created forests. Foxes, deer and hares, fortunately, do still exist. My question is, how come these countries are still so well off – not only from the point of view of economy but also from the angle of public health despite the loss of large tracts of natural forests? Or is it that modern science and a health conscious society can compensate the loss of biodiversity.

“Well”, I thought to myself, “Bloody good question”.

I have come across this genre of question before, but usually under more hostile circumstances when an overtly right-wing respondent (hell, let’s call a spade a spade – a ‘completely selfish arsehole’) has challenged me on the ‘value of nature’ logic (I’m not for a moment suggesting that P. Basu is this sort of person; on the contrary, he politely asked an extremely important question that requires an answer). The comeback generally goes something like this: “If biodiversity is so important, why aren’t super-developed countries wallowing in economic and social ruin because they’ve degraded their own life-support systems? Clearly you must be wrong, Sir.”

There have been discussions in the ecological and sustainability literature that have attempted to answer this, but I’ll give it a shot here for the benefit of CB.com readers. Read the rest of this entry »





The economy worse off since 1978

3 07 2013
eat money

Can’t eat money

I was only a little tacker in 1978, and as any little tacker, I was blissfully unaware that I had just lived through a world-changing event. Just like that blissfully ignorant child, most people have no idea how important that year was.

It was around that year that humanity exceeded the planet’s capacity to sustain itself in perpetuity1. As I’ve just discovered today, it was also the same year that the per-capita Genuine Progress Indicator (GPI) peaked.

Now for a little detour and disclaimer before I explain all that. I’m not an economist, but I have a dabbled with the odd economic concept and bolted-on economic sub-routine in a few models I’ve written. Some would argue that conservation (i.e., the quest and methods needed to conserve biowealth) is almost entirely an economic pursuit, for economics is the discipline that attempts to explain (and modify) human behaviour. I tend to agree insofar as we now know enough on the biological side regarding how species become threatened and go extinct, and what kind of things we need to do to avoid losing more of the life-support system provided by biodiversity. Being completely practical about it, one could even argue that the biology part of conservation biology is complete – we should all now re-train as economists. While that notion probably represents a little hyperbole, it does demonstrate that economics is an essential endeavour in the fight to conserve our home.

Almost everyone has heard of ‘GDP’ – the Gross Domestic Product – as an indicator of economic ‘performance’, although most people have little idea what it actually measures (I’m including businesspeople and politicians here). GDP is merely the sum of marketed economic activity, which is only one small facet of the economy. For example, growing a tomato and preparing a salad for your family with it is not included, yet buying a frozen meal in the supermarket is. Even an oil spill increases GDP via increased expenditures associated with clean-up and remediation, when clearly it is not a ‘good’ thing for the economy on the whole because of the lost opportunities it causes in other sectors. Read the rest of this entry »





Unholy trinity of leakage, permanence and additionality

13 03 2012

I begin with the proverbial WTF? The title of this post sounds a little like the legalese accompanying a witchcraft trial, but it’s jargon that’s all the rage in the ‘trading-carbon-for-biodiversity’ circles.

I’m sure that most of my readers will have come across the term ‘REDD‘ (Reduced Emissions from Deforestation and forest Degradation), which is the clever idea of trading carbon credits to keep forests intact. As we know, living forests can suck up a lot of carbon from the atmosphere (remember your high school biology lesson on photosynthesis? Carbon dioxide in. Oxygen out), even though climate change is threatening this invaluable ecosystem service. So the idea of paying a nation (usual a developing country) to protect its forests in exchange for carbon pollution offsets can potentially save two birds with one feeder – reducing overall emissions by keeping the trees alive, and ensuring a lot of associated biodiversity gets caught up in the conservation process.

The problem with REDD though is that it’s a helluva thing to bank on given a few niggly problems essentially revolving around trust. Ah yes, the bugbear of any business transaction. As the carbon credit ‘buyer’ (the company/nation/individual who wishes to offset its carbon output by ‘buying’ the carbon uptake services provided by the intact forest), you’d want to make damn sure that all the money you spend to offset your carbon actually does just that, and that it doesn’t just end up in the hands of some corrupt official, or even worse, used to generate industry that results in even higher emissions! As the buyer, of course you want to entice investors to give you lots of money, and if you bugger up the transaction (by losing the resource you are providing), you’re not likely to have any more investors coming knocking on your door.

Enter the unholy trinity of leakage, permanence and additionality.

This horrible jargon essentially describes the REDD investment problem:

Read the rest of this entry »