A New Market Instrument for Sustainable Economic and Environmental Development

The regenerative capacity of ecosystems provides a regulatory basis for sustainable economic growth and development. A natural valuation of an ecosystem's services will arise in a market for developmental rights in the ecosystem using a unit of tradable `right': E-Scrip. The amount of e-scrip needed for a development may be set by Environmental Assessment. The capacity of the ecosystem to regenerate with developmental pressure may be represented by an independent trader or Factor Proxy for the Environment who provides e-scrip to the market. ABSTRACT FROM AUTHOR]; Copyright of Environmental Monitoring & Assessment is the property of Springer Science & Business Media B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)