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Centre for Environmental Economics and Policy
 
 

Centre for Environmental Economics and Policy

Investment Framework For Environmental Resources

 
View of the bluff and water at Willyabrup

Investment Framework For Environmental Resources (INFFER) develops and applies models and decision frameworks that push forward the frontiers of environmental policy design.

It focuses on scientific integration within an economic framework.

It applies the resulting insights and decision tools to some of Australia's most important natural resource issues:

  • biodiversity conservation
  • water yield (quantity) and land degradation.
  • protection of water quality (salinity, nutrients, sediment)

INFFER directly addresses four problems that have been identified with existing programs:

  • poor spatial targeting
  • risk of paying landholders more than necessary to achieve environmental targets
  • lack of clarity about objectives
  • risk of applying the wrong policy mechanisms.

INFFER is designed to assist with decision-making about public investment in the management of natural resources.

Aims of the project

  1. Improve the effectiveness and efficiency of Australia's policy programs that seek to enhance land, water and biodiversity conservation.
  2. Understand behavioural responses to policy, and quantify the benefits and costs of different policy mechanisms, mechanism designs, and institutions, leading to the development of context-specific policy regimes for land, water and biodiversity conservation.
  3. Build capacity to deliver above aims through establishing a research centre to develop and apply models and decision tools to evaluate potential policy investments.

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Overview of the process

  1. Identify assets that are potentially high priorities for investment.
  2. For each asset, assess likely benefits and costs of investment (using the project assessment form above). If project involves change on private land, use the Public: Private Benefits Framework to identify appropriate policy tools.
  3. Identify a short list of assets for feasibility assessment.
  4. Conduct feasibility assessment (technical and socio-economic) of assets on the short list.
  5. Select specific investments and develop investment plans. Set target outcomes based on realistic assessment of feasibility.
  6. Monitor the investments, based on the investment plans and targets.

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Activities under way to support the process

  • Development of training materials for environmental managers and regional NRM bodies
  • Help-desk and hands-on support to five regional partners who are applying the framework
  • Research and modelling to embed up-to-date science and economics in future versions of the framework
  • Engagement with policy makers and policy agencies at state and national levels
  • Broad communication

More information about the INFFER process

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Centre for Environmental Economics and Policy
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Last updated:
Monday, 18 July, 2011 10:58 AM

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