Project Report:
A Market-Based Private Revenue Stream to Support Coral Reefs

Summary

Working with Richard Thaler and the University of Chicago, we will set the stage to pilot and test a new market-based model for generating private revenues to support coral reefs. The new private stream is needed to co-finance long-term agreements under an emerging public-private partnership in Palau.

Purpose

An economic imbalance occurs because many people value the existence of coral reefs but as yet do not exercise those values by contributing to beneficial management and protection. Ultimately, we will leverage the corporate and finance sector to create a way for those who value the existence of reefs to contribute in ways that are beneficial to all parties. In essence, we will apply the user pays principle, extending it to "non-consumptive" use of coral reefs by those willing to contribute to continued existence of coral reefs.

Scope

The scope is international in nature, applying to globally valued coral reefs that produce both market and non-market goods and services.


If successful, the model can contribute to US interests by enabling small-island developing states like Palau in the western Pacific to better protect and benefit from coral reefs and associated fisheries and tourism revenues. Such an outcomes can presumably strengthen longstanding diplomatic and economic relationships developed since the end of WWII.

Amount Approved
$20,000.00 on 7/10/2019 (Check sent: 7/12/2019)



Address
114 Oak Knoll Drive
Santa Cruz, CA 95060


Phone
(415) 602-7302
(760) 250-5450


Posted 6/6/2019 4:33 PM
Updated   8/15/2019 9:52 AM

  • Nonprofit


 
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