The Privatisation of Biodiversity? New Approaches to Conservation Law
Reviewed by J. W. Chun, Massachusetts Institute of Technology
Creating new ways of thinking about the value of biodiversity and hence new opportunities for biodiversity law and regulation
by Colin T. Reid and Walters Nsoh The Privatisation of Biodiversity? New Approaches to Conservation Law, Edward Elgar Publishing, 2016, 275 pp.
Despite many laws and policies aimed at protecting biodiversity, biodiversity losses continue to mount. Colin T. Reid and Walters Nsoh explore biodiversity regulation from a new perspective: as a value-creating opportunity rather than a set of restrictions. Their aim “is to identify not a single favoured solution, but the questions which have to be answered in designing a scheme that will meet the needs of the specific policy goals and the legal and physical context in which the mechanism is to be deployed.”
Reid and Nsoh divide their book into two sections. The first offers an overview of existing laws and regulations. The authors review some of the most “pervasive” issues surrounding various mechanisms used to conserve biodiversity. Although not exhaustive, their list includes uncertainty, exchangeability and units of trade, which must be considered in the design and implementation of new, market-oriented mechanisms. These pervasive issues have to be taken into account no matter what options are considered for better managing natural capital.
The second section of the book introduces a wide range of biodiversity protection mechanisms and discusses their practicalities. For each, the relevant legal construct and the actors typically involved are discussed. The authors emphasize that various mechanisms could almost always be applied. However, they argue that a more open, accountable, and holistic approach would be preferable.
The authors admit that there are limitations to their approach; for instance, it is rooted in “Western” concepts of law (i.e., they have a UK perspective). This may undermine its viability in certain contexts, limiting its application in locations where new mechanisms are needed the most. The Privatisation of Biodiversity is carefully organized, drawing attention to the importance of looking at biodiversity from a number of angles, particularly through a lens of market-driven mechanisms. The book provides a starting point for those who want to think about local biodiversity in new ways.
