Nature-based solutions address biodiversity loss, climate change, and societal challenges at the local, national, regional, and global levels. The costs of their conservation, however, are mostly local and national in nature. Confronting the rolling dual crisis of biodiversity loss and climate change requires us to recognize nature’s intrinsic value. Moreover, we must find practical ways for their monetary valuation to be channeled as payment for the services of conservation custodians. It is suggested here to translate the value of natural assets and the understanding of the local costs and global benefits of their conservation, into an innovative and ambitious funding mechanism that is based on applying Pigouvian taxing at a global level, through a joint global responsibility fund for climate, biodiversity, and communities. We live in a critical time, and critical times call for bold solutions.
"Joint Global Responsibility Fund for Climate, Conservation, and Communities: A Proposed Innovative Tax-Based Funding Mechanism,"
New England Journal of Public Policy: Vol. 35:
2, Article 5.
Available at: https://scholarworks.umb.edu/nejpp/vol35/iss2/5