NaturEtrade: An ‘eBay for ecosystem services’
The Oxford Martin School has helped to develop NaturEtrade, an online marketplace for ecosystems services. Landowners or managers can set a price that they would accept in return for keeping their land in its present ecological condition, rather than putting it to other uses that might degrade it. Buyers who want the land to remain unchanged, e.g. a business further downstream that wants to limit flooding, can enter into a contract with the landowner or manager.
The researchers behind the project say they could use satellite monitoring to scale up the tool more cheaply than if the land had to be assessed in person.
Europe is the world's second-smallest continent by surface area, covering just over 10 million square kilometres or 6.8% of the global land area, but it is the third-most populous continent after Asia and Africa, with a population of around 740 million people or about 11% of the world's population. Its climate is heavily affected by warm Atlantic currents that temper winters and summers on much of the continent. In the European Union, farmers represent only 4.7% of the working population, yet manage nearly half of its land area.