Selecting market-based incentives for natural resource management

In Australia, there is increasing interest in ensuring that land, water and vegetation resources, under the control of private landholders, are appropriately managed. There are a range of methods and mechanisms that can be applied to help achieve improved natural resource management (NRM) outcomes. Some mechanisms, such as extension programs, regulations, and taxes and subsidies, are implemented by the government. Other mechanisms, such as eco-labelling, environmental reporting, and industry standards and management plans, are implemented by industry peak bodies and private organisations.