Abstract
Viewing nature as ‘common goods’ results in under-valuating of natural capital and assets. As a consequence, budget allocations for environmental protection, biodiversity conservation, and climate action are considerably insufficient. Another result is opting for unsustainable and destructive land and resource uses, which provide immediate and tangible monetary revenues. This article emphasizes the need to valuate natural assets and nature-based solutions (NBS), and their contribution. It further explores optional solutions, including national and global policy, and legislative and taxing instruments, to translate this value into substantive tangible financing for coordinated and synergetic approaches to address the critical global climate and biodiversity loss crisis, while strengthening the resilience of human societies and economies, and remunerating the local custodians. Such optional solutions are showcased. It is our call to make them a reality, even if they do not seem realistic—yet.
Recommended Citation
Tamar Ron
(2025)
"Time to Pay for Nature-Based Solutions,"
New England Journal of Public Policy: Vol. 37:
Iss.
2, Article 9.
Available at:
https://scholarworks.umb.edu/nejpp/vol37/iss2/9