. A challenge for Australia’s scheme, however, is figuring out how to value nature itself.
Some businesses will buy from the market voluntarily when it opens, but it remains to be seen that there will be enough to sustain the market in the short term, she said. That means the government would need to step in and become an active investor, Dr. Gunn said. More than 60% of land in Australia is privately owned. Past conservation efforts focused on national parks or wildlife refuges.As lawmakers figure out the mechanics of the market, some organizations are plowing ahead with separate plans to develop credits.
In the northern tropics, much of the coastal lowland habitat of the cassowary has been cleared for farms and the growth of towns. The area is also threatened by cyclones, diseases such as avian tuberculosis and wild dogs. These threats have increasingly driven the bird, which can grow to two meters tall, to higher ground. The cassowary is listed by the government as endangered,
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