The Future of Sustainability: Have Your Say!

Week Three - “The New Economy and Biodiversity”
Comment / Comentario / Commentaire

Joshua Bishop, Senior Advisor Economics, IUCN

Moderating team: Joshua Bishop agrees with Shuaihua Cheng on the “myth of the market” that voluntary action by business, though helpful, may not be enough.

Joshua Bishop coincide con Shuaihua Cheng en el “mito del mercado”: la acción voluntaria del mercado, puede ser útil, pero no suficiente.

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I agree with Shuaihua Cheng. The "myth of the market" to which Shuaihua Cheng refers is presumably the myth that voluntary action by business will suffice. I agree that voluntary action may not go far enough and that appropriate enabling frameworks (property rights, legal liability, access to information / reporting requirements and of course fiscal incentives) are often a necessary complement to spur the market on a large scale. At the same time, voluntary initiatives can be very helpful to inform the design of effective, efficient and equitable enabling policies.