Developed-developing world partnerships for sustainable development (2): An illustrative case for a payments for ecosystem services (PES) approach

Everard, Mark; Longhurst, James; Pontin, John; Stephenson, Wendy; Brooks, Joss

Abstract

© 2016 Elsevier B.V. The Converging World (TCW) developed-developing world partnership model represents a transparent approach to addressing carbon emission management in a mutually beneficial way, with a substantial ‘multiplier effect’ achieved though reinvestment of operating surpluses from energy generation into tropical dry evergreen forest (TDEF) restoration. Carbon dioxide is averted/sequestered at a theoretical cost of 0.0058 per t CO 2 e (≈US0.01 per t CO 2 e). For the City and County of Bristol, England, cumulative century-long CO 2 e emissions of 256,550,000t CO 2 e could be matched by one-off investment of 3:56 for each of Bristol City's 442,500 population in commissioning a 2.1MW wind turbine in Tamil Nadu under the TCW model. Similar considerations apply at institutional level; indicative contributory investment in turbine installation is calculated for a case study institution. Calculated investments relate to the ‘anchor service’ of climate regulation, though the TCW model also generates multiple co-beneficial ecosystem services serving local people and addressing UN Sustainable Development Goals. Restoration of other bioregional habitats could yield additional socio-ecological benefits. TCW's aspirational investment model positions social return on investment (SROI) as primary ‘interest’, rather than maximisation of financial returns to investors. We test the case for founding developing world investment on the basis for ‘payments for ecosystem services’ (PES).

• Journal Article Type: Article
• Acceptance Date: Sep 27, 2016
• Online Publication Date: Oct 18, 2016
• Publication Date: Apr 1, 2017
• Deposit Date: Oct 24, 2016
• Publicly Available Date: Oct 18, 2017
• Journal: Ecosystem Services
• Print ISSN: 2212-0416
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 24
• Pages: 253-260
• DOI: https://doi.org/10.1016/j.ecoser.2016.09.019
• Keywords: renewable energy, climate change, restoration, economics, sequestration, resilience
• Public URL: https://uwe-repository.worktribe.com/output/888612
• Publisher URL: http://dx.doi.org/10.1016/j.ecoser.2016.09.019
• Contract Date: Oct 24, 2016