ICCG Webinar on: “The Transferability of Economic Instruments to Mitigate Drought or Other Water Scarcity Impacts”
15:30 - 16:20
Economic instruments are varied, and their uptake differs depending on the legal, social, economic and environmental context under consideration. In some contexts pricing and public subsidization form a basis for mitigating impacts, while in others private risk-mitigation arrangements such as insurance and water trade are used. Often all of these are present as a broad-spectrum approach to the issues involved. In this discussion, examples of these instruments will be provided together with insights into their advantages and disadvantages in the real-world. Enabling and constraining factors will also be raised and debated by the participants in an effort to identify where lessons could be learned across different contexts that share water management problems of a wicked nature.