wise use of mires and peatlands - Peatland Ecology Research Group

FRAMEWORK FOR WISE USE135the management of mires and peatlandsbecause they are sensitive to problemsarising elsewhere in a catchment, and canadversely affect large areas outside theirimmediate vicinity when they are developedinappropriately.(2) Ecosystem Approach 46 : The EcosystemApproach is a strategy for the integratedmanagement of land, water and livingresources that promotes conservation andsustainable use in an equitable way. Theprinciples involved are contained inAppendix 3 to this document.Depending on the legislative system in aparticular country some of the instruments atnational level apply instead at the subnationallevel.5.6.5 Instruments at the level ofenterprises 47(1) Corporate Governance and commercialstrategy: Corporate governance is thesystem by which commercial companies andinstitutions are directed and controlled 48 . Itis normal practice for boards of directors tobe appointed in companies and institutionsand for these boards to be responsible fortheir governance. The responsibilities of theboard include setting the company’s orinstitution’s strategic aims, providing theleadership to put them into effect, supervisingthe management, and reporting on theirstewardship to their shareholders (in the caseof companies) or to their sponsors (in thecase of institutions).Where management, or development wheresuch is permitted, of a mire or peatland is inthe hands of a company or institution withstrong and ethical corporate governance it isfar more likely that the management and/ordevelopment will be carried out in aresponsible manner. Where such bodies havewell-thought-out commercial strategies theywill only contemplate the development of amire or peatland if it makes long-termcommercial sense (cf. the principle ofmotivation at § 5.4 above). Good corporategovernance combined with sound commercialstrategy are unlikely to lead to piecemeal orshort-term destruction of mires.(2) Cost-benefit analysis 49 : Cost-benefitanalysis (CBA) is a comparison of theestimated costs of an action with theestimated benefits it is likely or intended toproduce. It is a technique to evaluate theworth of an idea or project; a measure of theextent to which the overall benefits outweighthe overall costs, and with how muchcertainty; and a comparison of alternatives -a Cost-benefit analysis of a single course ofaction cannot be carried out.In summary, a Cost-benefit analysis should:●●●●●describe the issue to be resolved;set out the proposal, the alternatives, thebenefits and costs, the risks 50 ;calculate the Net Present Value 51 of theproposal and the alternatives;outline who will enjoy the benefits andwhen;outline the options included and thoseexcluded; the assumptions made; and theperiod over which the analysis is calculated.The use of cost-benefit analysis will notnecessarily ensure the best use of a mire orpeatland from an environmentalperspective 52 . However, it would at leastensure that only viable proposals fordevelopment were implemented.(3) Environmental Management System: Anenvironmental management system is astructured system, integrated into the overallmanagement process, which monitors andcontrols the impact of an enterprise’sactivities on the environment. The enterprisefirst establishes an environmental policy withstringent objectives and then puts in placeprocedures to achieve conformance with