Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/124563
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dc.contributor.authorSettre, C.en
dc.contributor.authorConnor, J.en
dc.contributor.authorWheeler, S.en
dc.date.issued2019en
dc.identifier.citationJournal of Hydrology, 2019; 578:124077-1-124077-10en
dc.identifier.issn0022-1694en
dc.identifier.issn1879-2707en
dc.identifier.urihttp://hdl.handle.net/2440/124563-
dc.description.abstractMarkets are increasingly part of government, non-government, and private business provision of public environmental interests. Key examples include carbon credit markets and environmental water markets. Market demand for carbon credits from sequestration are expected to expand in size and geographic scope as a result of climate action obligations and increased carbon credit tradability provisions in the Paris Agreement on climate change. Market based reallocations of water are also increasingly common. The increased use of markets for multiple and related environmental good provision will inevitably introduce synergies and risks in joint ecosystem service provision. This study assesses water and carbon ecosystem service supply potential for a joint carbon and water market participation strategy using a case study of the lower Murrumbidgee, in the Murray- Darling Basin. The methodology is a dynamic hydro-economic simulation of river flows, floodplain inundation, forest carbon dynamics, carbon credit value, and water opportunity cost. The study results indicate possible synergies in joint provision of carbon sequestration and environmental flow benefits through a carbon-water trading strategy. This involves funds for environmental water purchases generated through sale of carbon credits from improved floodplain conditions. Results identify limited trading opportunities at the current carbon price (AU$13/tCO2), resulting in an economically viable re-allocation of 2.31 GL/year (0.1% of water currently diverted for irrigation) to the environment with frequent years of zero re-allocation. At prices above AU$20/tCO2, there may be additional trading opportunities and as much as 5% of current irrigation diversion was predicted to be reallocated at AU$100/tCO2. While the results are particular to the case study, the conclusions discussing policy design challenges related to realizing effective environmental improvements in interacting carbon and water markets are relevant to many water catchments globally.en
dc.description.statementofresponsibilityClaire M. Settre, Jeffery D. Connor, Sarah A. Wheeleren
dc.language.isoenen
dc.publisherElsevieren
dc.rights© 2019 Elsevier B.V. All rights reserved.en
dc.subjectEcosystem services; environmental water; carbon markets; water markets; Murray-Darling Basin; hydro-economic modellingen
dc.titleEmerging water and carbon market opportunities for environmental water and climate regulation ecosystem service provisionen
dc.typeJournal articleen
dc.identifier.rmid1000000599en
dc.identifier.doi10.1016/j.jhydrol.2019.124077en
dc.relation.granthttp://purl.org/au-research/grants/arc/DP140103946en
dc.relation.granthttp://purl.org/au-research/grants/arc/FT140100773en
dc.identifier.pubid498196-
pubs.library.collectionGlobal Food Studies publicationsen
pubs.library.teamDS06en
pubs.verification-statusVerifieden
pubs.publication-statusPublisheden
dc.identifier.orcidWheeler, S. [0000-0002-6073-3172]en
Appears in Collections:Global Food Studies publications

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