National Market Based Instrument Pilot Program Round One : An Interim Report
National Market Based Instrument Working Group
December 2005
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About this report
National Market Based Instrument (MBI) Working Group Interim Report on the Outcomes of Round One of the National Market Based Instruments Pilot Program (MBIPP)
As of December 2005, a number of pilot final reports have not yet been completed. Findings noted in this report are based on results and experience from the program to date. Round One of the pilot program is due to be completed by April 2006, after which this report will be updated with the final results of all Round One pilots.
Implications for NRM Ministerial Council Strategic Directions
The National Market Based Instruments Pilot Program (the Program) has tested and evaluated a range of new policy mechanisms. It has shown in theory and in practice that markets can be created through:
- Auctions of conservation contracts (for non-point-source problems)
- cap-and-trade mechanisms (for point-source problems)
- offset schemes.
The learnings from Round One of the Program will help to inform a number of the NRMMC strategic directions.
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