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PDF file

• Managing our natural resources: can markets help? (PDF - 593 KB)

About this document

What are MBIs?

Market Based Instruments (MBIs) are "tools" that use a range of market-like approaches to positively influence the behaviour of people. MBIs can achieve outcomes by altering market prices, setting a cap or altering quantities of a particular good, improving the way a market works, or creating a market where no market currently exists. This brochure discusses the application of MBIs to natural resource management (NRM) and environmental problems.

Australia is facing a range of complex NRM problems including water quality, salinity, biodiversity decline and soil erosion. Governments, industry, communities and individuals invest significant levels of funding each year towards addressing these NRM problems. To improve the efficiency and effectiveness of this expenditure a range of MBIs are currently being tested or implemented across Australia.

A wide range of policy, legislative and planning instruments guide the use of natural resources. MBIs have the potential to expand the management tools available to get better NRM outcomes.

Exploring the use of MBIs

In Australia,a number of different projects are either investigating ways to improve the use of MBIs in NRM through research or actually using MBIs on the ground for NRM outcomes. The National Action Plan for Salinity and Water Quality National MBI Pilots Program is one example of this on-going investigation.

This brochure introduces some of the MBIs currently being investigated in Australia. It also outlines the theory that underpins their potential benefits and some of the learnings to date from the National MBI Pilots Program and other MBI projects across Australia.