ENVIRONMENTAL POLICIES (Future Policy Tool: Market-Based Instruments)

• MBIs for environmental management are relatively new mechanisms in international policy context, but increasingly being considered for the management of natural resources and the environment.
• This is particularly so where regulatory approaches have failed to arrest on-going degradation or where the cost of traditional policy tools is proving prohibitive to government or society in general.
• Currently, MBIs application internationally is still in embryonic phase.