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REWARDING BENEFITS THROUGH PAYMENTS AND MARKETS<br />
Box 5.26: Social stock exchange for<br />
public serving companies<br />
The Social Stock Exchange is a way for investors to<br />
invest in businesses established with the aim of delivering<br />
particular social objectives, such as alleviating<br />
poverty or preventing environmental destruction51 .<br />
Allowing ‘social investors’ to make educated choices<br />
about the impacts organisations have on society<br />
could act as a powerful support for companies that<br />
provide a social good. Encouraging investment and<br />
trade can act as an incentive to keep biodiversity intact<br />
in the face of competition from less biodiverse<br />
alternatives.<br />
Source: Yunus 2007<br />
• include broader landscape considerations in<br />
certification processes to ensure that business<br />
works to improve overall regional biodiversity e.g. to<br />
ensure landscape connectivity across agricultural<br />
regions, prioritise efforts in high biodiversity areas etc.;<br />
• create more supply push and market pull for<br />
certified products and services through increased<br />
consumer awareness and supply-chain management<br />
by large commercial buyers (see also Section<br />
5.6 on green public procurement). This could be done<br />
through e.g. networks setting targets 50 or the creation<br />
of eco-investment funds to support companies that<br />
are certified and/or have shown innovative ways of<br />
creating sustainable business models. For example,<br />
a Swiss company HotelPlan raised US$ 750,000 in<br />
2002 through a US$ 3 charge on bookings which<br />
was used to support sustainable tourism, environmental<br />
efforts and emergency one-off projects (cited<br />
in Bishop et al. 2008);<br />
• invest directly or indirectly in companies that<br />
market certified products, particularly from High<br />
Conservation Value areas. This could include technical<br />
assistance to help develop more profitable<br />
businesses and ensure sustainable management<br />
practices and access to markets. There is also an<br />
opportunity to create incentive programmes for<br />
companies committed to purchasing biodiversityfriendly<br />
products or that make biodiversity protection<br />
their key output (see Box 5.26);<br />
Box 5.27: MSC risk-based support framework<br />
for smaller fisheries<br />
The MSC’s programme on Guidelines for Assessment<br />
of Small-Scale and Data-Deficient fisheries<br />
aims to provide small-scale and data-deficient fisheries<br />
with guidance on the assessment process.<br />
This methodology, known as the MSC Risk Based<br />
Framework, provides a risk assessment approach<br />
to help evaluate key environmental indicators of<br />
the MSC environmental standard for sustainable<br />
fishing. Although not limited to developing countries,<br />
it is likely to have the greatest uptake<br />
amongst them.<br />
Source: http://www.msc.org/about-us/credibility/all-fisheries<br />
• make better use of traditional knowledge of<br />
plant (and animal) species to develop new products<br />
that could reduce the costs of complying with<br />
chemical safety legislation and make global<br />
markets work better for the poor by helping<br />
provide non-timber forest products and other<br />
products suitable for bioTrade;<br />
• support the adoption of certification standards<br />
in developing countries, particularly in regions<br />
where they are currently non-existent or embryonic<br />
and help small to medium businesses for whom the<br />
initial investment becomes prohibitive (see Box 5.27).<br />
Alongside this increasing interest in expanding the<br />
reach of biodiversity-friendly products (see also<br />
Section 5.6 on green public procurement), trade concerns<br />
need to be borne in mind. While there are no<br />
formal trade implications of private demand for goods<br />
(e.g. choice of FSC-labelled goods or organic foods),<br />
the position is more complicated when it comes to governments<br />
applying instruments like taxes or subsidies<br />
to create price incentives for sustainable products (see<br />
Box 5.28).<br />
<strong>TEEB</strong> FOR NATIONAL AND INTERNATIONAL POLICY MAKERS - CHAPTER 5: PAGE 53