Leveraging Market-driven Environmental Protection

Abstract

To explore innovative funding mechanisms for landscape scale conservation, we sought to assess the feasibility of biodiversity credits, market-based instruments that quantify and monetize conservation outcomes. A case study was derived by targeting the Big Thicket National Preserve for the National Parks Conservation Association (NPCA), a national independent organization that aims to protect America's National Parks for present and future generations. NPCA is interested in exploring park protection beyond its boundaries through potential investments on private land adjacent to national parks, with implications toward a portfolio of 20 park landscapes nation-wide. To ensure well informed decision-making, geospatial science mapping was deployed to measure and showcase bio-geophysical values of the Big Thicket landscape guided by the development of a unique Conservation Value Index (CVI). After a comparative analysis of biodiversity credits alongside established tools such as the umbrella species approach, conservation easements, and carbon credits, we recommend that NPCA should not pursue a strategy toward biodiversity credits at this time. NPCA should monitor the UK's Biodiversity Net Gain legislation for potential lessons and applicability over the next 3-5 years. Lastly, it should prioritize established conservation tools and a contribution-based approach to investing in biodiversity without relying on untested metrics. The U.S. currently lacks a legal framework and standardized measurement methodologies for biodiversity credits, and market-driven approaches risk prioritizing cost-efficiency over genuine conservation, potentially leading to overexploitation. In contrast, proven tools like conservation easements and direct contribution approaches offer more reliable and immediate conservation outcomes. The resulting strategy allows NPCA to maintain conservation effectiveness while remaining open to proactive conservation as global standards and regulatory frameworks for biodiversity credits mature.