We analyse the current and possible ways forward in this consideration of climate and biodiversity by finance, highlighting the extent to which they may either contribute to and/or suffer from those environmental changes.
We examine the efficiency of a subsidy to cattle farmers for setting aside land for natural ecosystem regeneration. We develop a partial equilibrium model of the cattle sector that integrates land use, greenhouse gas emissions, and animal feeding. We identify conditions under which the subsidy is the best alternative to these other second-best policies.
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