Perspectives on tradable development rights for ecosystem service protection: lessons from an Australian peri-urban region
Competition for land between agriculture and urban uses is a global problem. Until recently, planners and policy makers have relied on regulatory ‘command and control’ planning approaches; however, there is growing interest in the use of market-based instruments to address natural resource management issues in complex and highly contested peri-urban environments. Tradable development rights are one type of market-based instrument. While tradable development rights have been used extensively in the United States, their application in Australia has been limited.