气候变化领域集成服务门户(CCPortal): The principal-agent problem and climate change adaptation on public lands

CCPortal

DOI	10.1016/j.gloenvcha.2016.01.001
	The principal-agent problem and climate change adaptation on public lands
	Hotte N.; Mahony C.; Nelson H.
发表日期	2016
ISSN	0959-3780
卷号	36
英文摘要	Climate change presents clear risks to natural resources, which carry potential economic costs. The limited nature of physical, financial, human and natural resources means that governments, as managers of natural resources, must make careful decisions regarding trade-offs and the potential future value of investments in climate change adaptation. This paper presents cost-benefit analysis of scenarios to characterise economic benefits of adaptation from the perspective of a public institution (the provincial government) and private agents (forest licensees). The example provided is the context of assisted migration strategies for regenerating forests that are currently being implemented in British Columbia to reduce future impacts of climate change on forests. The analysis revealed positive net present value of public investment in assisted migration across all scenarios under a range of conditions; however, private sector agents face disincentives to adopt these strategies. Uncertainty about how the costs, benefits and risks associated with climate change impacts will be distributed among public institutions and private actors influences incentives to adapt to climate change (the "principal-agent problem") and further complicates adaptation. Absent development of risk-sharing mechanisms or re-alignment of incentives, uptake of assisted migration strategies by private agents is likely to be limited, creating longer-term risks for public institutions. Analyzing incentives and disincentives facing principals and agents using a well-known tool (cost-benefit analysis) can help decision-makers to identify and address underlying barriers to climate change adaptation in the context of public lands management. © 2016 Elsevier Ltd.
英文关键词	Adaptation; Assisted migration; Climate change; Forestry; Principal-agent problem
学科领域	adaptive management; climate change; climate effect; cost-benefit analysis; forest management; future prospect; investment; public space; public-private partnership; regeneration; risk assessment; trade-environment relations; trade-off; decision making; incentive; land management; natural resource; political system; public sector; uncertainty analysis; British Columbia; Canada
语种	英语
scopus关键词	adaptive management; climate change; climate effect; cost-benefit analysis; forest management; future prospect; investment; public space; public-private partnership; regeneration; risk assessment; trade-environment relations; trade-off; decision making; incentive; land management; natural resource; political system; public sector; uncertainty analysis; British Columbia; Canada
来源期刊	Global Environmental Change
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/117408
作者单位	Faculty of Forestry, University of British Columbia, 2424 Main Mall, Vancouver, BC V6T 1Z4, Canada
推荐引用方式 GB/T 7714	Hotte N.,Mahony C.,Nelson H.. The principal-agent problem and climate change adaptation on public lands[J],2016,36.
APA	Hotte N.,Mahony C.,&Nelson H..(2016).The principal-agent problem and climate change adaptation on public lands.Global Environmental Change,36.
MLA	Hotte N.,et al."The principal-agent problem and climate change adaptation on public lands".Global Environmental Change 36(2016).