Paavola, J orcid.org/0000-0001-5720-466X and Primmer, E (2019) Governing the Provision of Insurance Value From Ecosystems. Ecological Economics, 164. 106346. ISSN 0921-8009
Abstract
Ecosystems can buffer against adverse events, such as storms or pest outbreaks by reducing the probability of harm and magnitude of losses. We conceptualise factors involved in the governance of insurance value provision, drawing on the notions of protection and insurance, exogeneity and endogeneity, and allocation of rights and responsibilities. Using riverine floods and forest pest outbreaks as examples, we explore the challenges of governing ecosystem-based risk management. We suggest that such governance should build on existing institutions, because insurance value is jointly produced with provisioning ecosystem services and the governance arrangements for them importantly shape insurance value provision. However, existing institutional arrangements do not acknowledge involved actors' rights and responsibilities and they do not facilitate landscape level management of risks. While PES schemes and other market-like solutions may govern the provision of insurance value when transaction costs and trade-offs between the provision of insurance value and private goods are low, regulation or public provision is needed when transaction costs and trade-offs are high. The complexity of challenges in governing the provision of insurance value highlights the need for polycentric governance involving collaboration, knowledge creation and dissemination and the funding of activities needed for them.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/BY/4.0/). |
Keywords: | Ecosystem services; Risk management; Flood risk; Pest risk; Governance; Polycentricity |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > School of Earth and Environment (Leeds) > Sustainability Research Institute (SRI) (Leeds) |
Funding Information: | Funder Grant number ESRC ES/LK006576/1 ESRC Not Known |
Depositing User: | Symplectic Publications |
Date Deposited: | 04 Jun 2019 11:33 |
Last Modified: | 25 Jun 2023 21:51 |
Status: | Published |
Publisher: | Elsevier B.V. |
Identification Number: | 10.1016/j.ecolecon.2019.06.001 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:146884 |