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The Implementation of Forest Bond in Thailand |
|---|---|
| รหัสดีโอไอ | |
| Creator | Prinyarat Laengcharoen |
| Title | The Implementation of Forest Bond in Thailand |
| Publisher | School of Development Economic |
| Publication Year | 2557 |
| Journal Title | Development Economic Review |
| Journal Vol. | 8 |
| Journal No. | 1 |
| Page no. | 137 |
| Keyword | Forest Bonds, Beneficiaries Pay Principle, Thailand |
| ISSN | 1906-2540 |
| Abstract | This paper presents another approach as a new mechanism to increase the forest area and the source of budget can be generated from beneficiaries who get benefits from the forest conservation and restoration by issuing the forest bond as a capital to drive this mechanism based on the principle of Beneficiaries Pay Principle, which lead to sustainable forest conservation. The study finds that a number of necessary condition for the success of forest bond. First, the forest bond requires specific legislation and the new organization. Second, forest bond needs to be focused on the concept that human can live in the forest in a sustainable way by reforestation and afforestation in degraded forest. The initial value of financial return of reforestation over a 15-year bond in one million rai of forest areas can be collected in several channels: revenues from a sustainable timber sector, revenues from reduction of greenhouse gas emission in the forestry sector, revenues from the water charge to the industries or key water users in the dry season, government budget for flood and drought prevention, revenues from carbon tax, revenues from tourism in protected areas, and revenues from the government budget of reforestation and forest restoration. However, the mechanism of the forest bond will fair to all parties involved and not proposed replace the traditional measures, but rather proposed as a parallel tool with other conservation policies. |
