ESP members Robert Costanza, MarcelloHernandez-Blanco and others published the paper Common Asset Trusts to Effectively Steward Natural Capital and Ecosystem Services at Multiple Scales. The article highlights how ecosystems (natural capital) can be better managed by using more nuanced private and community property rights and Common Asset Trusts (CATs). An explanation of property rights regimes, property rights to the commons and the public trust doctrine is given. The paper also describes examples of CATs at multiple geographic scales and suggests how Costa Rica can transform its existing payment for ecosystem services (PES) scheme into a national CAT. Lastly, the paper describes how CATs can facilitate more fair and effective public/private partnerships (PPPs) to invest in natural capital and ecosystem services.
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