Valuation and reporting of native fauna in monetary terms: compatibility between a market-Based system and natural resources?

A change in community values and priorities has introduced ethical,
environmental and social issues into the way in which business conducts
its activities. There are an increasing number of managed investment funds focusing on socially responsible investment (SRI) by concentrating on firms that operate according to predetermined criteria for environmental, social and ethical issues. For investors in these funds environmental stewardship issues are integrated with concern over financial resources and performance. In this paper the accounting and reporting by business activities concerned with conservation of wildlife are examined. The world of accounting has functioned for many years with relatively few accounting standards devoted to specialised industry needs. In 1998 the Australian Accounting Standards Board and in 2001 the International Accounting Standards Board issued standards devoted to agriculture. Both standards deal with the reporting of managed biological assets and require application of essentially the same approaches despite the Australian standard requiring net market value while the International standard requires fair value. In this paper we analyse how one conservation firm Earth Sanctuaries Ltd. (ESL) has applied AASB 1037 and then we explore the implications for conservation firms operating in geographical locations outside Australia. It is suggested that AASB 1037 and indeed lAS 41 may not provide value appropriate information for investor decisions relating to accounting profits for such firms. Our examination shows that it is appropriate to reconsider accounting guidelines provided by these standards in order to link the information relating to economic and environmental performance. Transparency may be improved by a move closer to Elkington 's (1997) triple bottom line reporting. We therefore contend that the issues arising from the use ofAASB 1037 and lAS 41 need to be widely considered by all standard setters, particularly given the increasing attention to SRI.

Western Sahara : international law, justice and natural resources

As the Spanish were preparing to leave colonized Western Sahara in 1975, Morocco invaded, sparking a war with the Western Saharan Polisario Front. About 70% of Western Sahara was occupied by Morocco, which stations up to 140,000 soldiers in the territory, primarily along a 1700 kilometre long sand berm that is protected by one of the world’s largest fields of landmines. In 1991, Morocco and the Polisario Front agreed to a truce ahead of a referendum on Western Sahara’s future. However, Morocco has since refused to allow the referendum to take place, and has begun the extensive exploitation of Western Sahara’s non-renewable natural resources. This has both highlighted the plight of the Saharawi people who live in refugee camps in Algeria and in occupied Western Sahara, and pushed the Polisario Front back to a position where it is openly canvassing for a return to war.

The minimum moral content of law : a critique of Hart's descriptive theory of positive and natural law

Review of H.L.A. Hart's account of the minimum moral content of law - assesses its consistency with the methodology provided in his description of the focal meaning or central case of law - particular focus is Hart's consideration of the ultimate end of man - how difficulties faced by Hart's account of the minimum moral content of law can be overcome.

Properties, processing and performance of rare and natural fibres : a review and interpretation of existing research results

A substantial up-to-date reference manual has been prepared which documents important issues for the supply chain of rare natural animal fibres. New developments in textiles have been included. Cashmere, mohair and camelid fibres have special properties of softness, smoothness and lustre, when compared with sheep wool. They also have other attributes which affect market prices and consumer perceptions, such as being rare and exotic luxuries, and are associated with expensive, comfortable and exclusive garments. These fibres add to the range of wool processing, and add value to wool textiles. Generally, knowledge about these animal fibres is limited, and research effort small compared with research into wool and other natural and man-made fibres. Compared with wool, rare natural animal fibres are more difficult and costly to process. Knowledge about processing these fibres is kept guarded as industrial knowledge. There are problems with clearly identifying rare natural animal fibres when goods are traded or fibres are blended, and fraud is a major concern for textile manufacturers and industry groups. Prickle discomfort in mohair and alpaca next-to-skin wear is a major concern for consumers and textile manufacturers. Natural colours, whiteness and yellowness of rare natural animal fibres are important fibre attributes for dyers and consumers, and the current products have both positive and negative colour attributes for processors. Past investments by RIRDC have made substantial gains in knowledge about fundamental and applied areas of knowledge on the properties, testing and processing performance of rare natural animal fibres.

Towards more integrated natural resource management in Victoria : possible elements of an integrated state-wide policy framework

There is a growing recognition of the complexity of environmental issues and acceptance of the value of more integrated approaches to address them. Evidence of progress with the development of more integrated approaches is however less clear cut. Within this context, this paper explores how a more integrated approach 10 natural resource management at a state government level could be progressed. Using recent experience in Victoria as a focus, this paper provides an overview of environment and natural resources issues confronting the State. highlights why integration is an important element of any response. and outlines the current policy and organisational context. Possible elements of a state-wide policy framework for more integrated natural resource management across a state government organisation are also outlined and discussed.

Conservation of the endemic dwarf carnivores of Cozumel Island, Mexico.

Cozumel Island, Mexico, harbours two endemic species of dwarf procyonids: the Pygmy Raccoon Procyon pygmaeus and the Dwarf Coati Nasua nelsoni. Both species are Critically Endangered, and are among the world’s most threatened Carnivora. Here we summarise the research we have been conducting on their ecology, evolution, genetics, and conservation. We also summarise the conservation initiatives we have been undertaking and promoting in order to advance the conservation of these unique species and their habitats. This effort illustrates the importance of an interdisciplinary approach in conservation science and action in maximising effectiveness. Nevertheless, the precarious status of the species make it imperative to continue and expand the work we have carried out in Cozumel to prevent two imminent global extinctions.

Mineral rights are dead! Long live mineral rights!

Whilst being mindful of the eventual extinction of the legal notion of mineral rights in South Africa upon expiry of the transitional measures in terms of schedule II of the Mineral and Petroleum Resources Development Act 28 of 2002 on 30 April 2009, the classification of mineral rights by the supreme court of appeal in the Anglo decision is to be welcomed, even though it is somewhat ironic at this stage. (As to the extinction of the notion of mineral rights, see Badenhorst "Mineral rights : 'year zero cometh?'" 2001 Obiter 119; "Exodus of 'mineral rights' from South African mineral law" 2004 Journal of Energy and Natural Resources Law 218.) It will, however, be shown in this discussion that the decision of the supreme court of appeal will extend beyond the statutory transitional period and will also have an impact on rights to minerals or rights to petroleum as created in terms of the Mineral and Petroleum Resources Development Act (hereafter referred to as the act). For purposes of this discussion, one can simply continue to refer to mineral rights that developed from the common law as "mineral rights", whilst referring to the new rights created in terms of the act as "rights to minerals and petroleum". The present decision only deals with coal as "minerals".

"Minerals", "petroleum" and "operations" in the Mineral and Petroleum Resources Development Act 28 of 2002 : a geologist as devil's advocate for a change? "

This article examines the meaning of "minerals", petroleum, "operations" and activities in relation to such substances to determine the ambit of the application of the Minerals and Petroleum Resources Development Act 28 of 2002, the type of rights necessary for such operations and activities and the ambit of these rights. The examination of the meaning of these concepts takes place with reference to prior definitions in statutes and also from a natural science and geology perspective. An attempt is made to show that the legal definitions do no always correspond with the geological meanings and the meanings on the ground. It is questioned whether in recent legislation why more reliance is not placed on input from geologists in the field.

The experience of Singapore in raising awareness of natural and cultural resources

The city-state of Singapore has a major role in the urban development. Majority of the innovative projects are initiated by the government agencies. For this paper, I would like to highlight the two distinct themes of innovation that, I believe preoccupied the authority for its urban issues, they are innovation which concern nature and culture. Land in Singapore is scarce. Natural resources are strictly protected. At the same time they are challenged to return the maximum benefit to their own population. The water catchment area and the prime forest on the whole island is the most valuable natural resources to be preserved. The paper will demonstrate how Singapore challenges with its own resources (water and greenery) in which the holistic planning around these themes become more than just spaces of protection but integrated with the public space system and turned into more valuable spaces for the well being of its population. The second theme is the issue related to culture. Singapore's economy is the most advance compare to other Southeast Asian countries, however when it comes to culture and identity, the city state struggles with the over constructed image of branding Singapore's culture. The paper will discuss several examples around the theme of arts and culture, how the city state bench-mark itself with the world class cities. It is one of the most challenging topic in urban planning and policy making. It is worth discussing on its success and failure. We can learn form Singapore that innovation at the level of policy maker can be achieved in some urban aspects such as the management of natural resources and urban design projects related to it. However when it comes to the issue related to art and culture, the top down policy alone cannot assure the achievement of city's identity as it aspired. Tracing the historical development of the environmental and cultural policies of Singapore the paper intends to study and analyze various case studies reflecting these attempts of natural and cultural instillation. In the process of comparison of these two drastically contrasting actors and approaches, the paper will argue that it has mostly been driven by economic aims, and careful thought. The results have been limited and restrictive. Further arguing that 'creativity' is the essential factor of arts and culture, it evaluates the authenticity and the ultimate implications on cultural spirit.