As environmental risks like oil spills 🌊 continue to threaten ecosystems, securing sustainable funding is more important than ever. In a new study, researchers Maria A. Cunha-e-Sá, Til Dietrich, Ana Faria, Luis Catela Nunes, Margarida Ortigão, Renato Rosa, and Carina Vieira-da-Silva explore how crowdfunding 💸 can be a transparent and trusted alternative to taxes for environmental conservation.
The article "Willingness to Pay for Nature Protection: Crowdfunding as a Payment Mechanism" examines crowdfunding as a credible alternative to traditional taxes for environmental conservation. The study uses a discrete choice experiment, showing that people prefer crowdfunding, particularly in areas where trust in institutions is low. Crowdfunding, supported by mechanisms like provision points and money-back guarantees, offers transparency and trust, making it an effective tool for financing ecosystem protection projects.
Focusing on vulnerable coastal regions 🏖️ in Portugal, the study shows that people prefer contributing via crowdfunding, especially where trust in public institutions is low. With provision point mechanisms and money-back guarantees, crowdfunding campaigns offer accountability, encouraging participation 🌱.
This innovative approach empowers communities to protect their ecosystems and contributes to sustainable environmental policies 🌎.
🔗 Read more: https://rdcu.be/dWZiY