Creating Markets for Biodiversity: A Case Study of Earth Sanctuaries Ltd

Abstract

This papers examines the activities and operations of the first publicly listed company in Australia with wildlife conservation as its primary goal. Earth Sanctuaries Ltd (ESL) is the first publicly listed company in Australia with wildlife conservation as its primary goal. Its focus to date is on conservation of small native mammals that are threatened by exotic predators and loss of habitat. Its strategy has been to acquire land, erect electrified vermin-proof fencing, remove feral animals, regenerate native vegetation and reintroduce selected native species. The paper finds that there does not appear to be a consistent and coordinated approach across jurisdictions for private conservation providers to access, keep, relocate and trade native wildlife, amplifying uncertainty for organisations which operate in several jurisdictions.

Keywords: biodiversity, environment, conservation, wildlife, Earth Sanctuaries, regulation, property rights, competitive neutrality, contestability, ecological outcomes, private sector conservation

JEL Classification: Q, R