All of us rely on nature’s benefits during our daily routines, but few stop to think about how we can sustain those benefits over time. Luckily, there are economists, resource managers, and policymakers working on tools to help manage resources—and environmental markets are one of those tools. Environmental markets allow people who use ecosystem services to pay those who provide environmental benefits. In some cases, the environmental stewards who can provide benefits (like clean water, air and habitats) are farmers. While there is promise in environmental markets, there are a lot of kinks to work out.
Two new issue papers by the World Resources Institute, take a deep dive into the mechanics of water quality trading and other environmental markets by exploring options for market development. The papers were produced with support from the USDA Office of Environmental Markets, and were released earlier this month.