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.

A biogeographically mixed, Middle Permian brachiopod fauna from the Baoshan Block, Western Yunnan, China

A small brachiopod fauna is described from the carbonate rocks of the basal Shazipo Formation of the Baoshan Block, western Yunnan, south-west China, including significant new ventral and dorsal internal morphological features of Cryptospirifer omeishanensis Huang. This fauna is regarded as Wordian (Middle Guadalupian, Middle Permian) because of the presence of Cryptospirifer omeishanensis Huang and associated fusulinids (Neoschwagerina craticulifera Zone). Palaeobiogeographically, the brachiopod fauna is of considerable interest because of its admixed nature characterized by typical warm-water Cathaysian elements intermingled with temperate Peri-Gondwanan taxa. This in turn is interpreted to indicate that the Baoshan Block may have been situated in an intermediate palaeogeographical position between Gondwanaland to the south and Cathaysia to the north during the Mid Permian and, as such, it probably furnished an important 'stepping stone' for the dispersal of Mid Permian eastern Tethyan marine invertebrate taxa (e.g. Cryptospirifer) to the western Tethys.

A Lopingian (Late Permian) brachiopod fauna from the Qubuerga formation at Shengmi in the Mount Qomolangma region of Southern Xizang (Tibet), China

A small fauna of 11 species belonging to 10 genera of Permian Brachiopoda from the lower part of the Qubuerga Formation outcropping near Shengmi village in the Qomolangma region of southern Xizang (Tibet) is figured and new taxa are described. New taxa are Quinquenella semiglobosa and Costatumulus shengmiensis. The fauna is most likely of Wuchiapingian (Djhulfian) age as indicated by the majority of the brachiopod species.

A Guadalupian-Lopingian (Middle to Late Permian) brachiopod fauna from the Juripu formation in the Yarlung-Zangbo suture zone, Southern Tibet, China

A brachiopod fauna of 16 species belonging to 11 genera and three genera and species indeterminate from the middle and upper parts of the Juripu Formation in the Yarlung-Zangbo (Indus-Tsangbo) Suture zone (=Yarlung-Zangbo River zone), southern Tibet, is described and figured for the first time. A new species, Taeniothaerus zhongbaensis, is described. The fauna is comparable with that in the Kalabagh Member of the Wargal Formation of the Salt Range, Pakistan, and is considered to be most likely Capitanian (late Guadalupian/Middle Permian) to Wuchiapingian (early Lopingian/early Late Permian) in age, as indicated by the majority of the brachiopod species and by being constrained by an underlying fusulinacean fauna (Parafusulina Zone) and an overlying ammonite fauna (Cyclolobus fauna).

A Wuchiapingian (Late Permian) brachiopod fauna from an exotic block in the Indus–Tsangpo suture zone, southern Tibet, and its palaeobiogeographical and tectonic implications

A brachiopod fauna including 19 species of 17 genera from an exotic block in the Indus–Tsangpo suture zone in southern Tibet is described and illustrated. The brachiopod fauna is dominated by Martinia elegans and two new taxa: Jinomarginifera lhazeensis gen. et sp. nov. and Zhejiangospirifer giganteus sp. nov. The fauna is closely comparable with those from the middle and upper parts of the Wargal Formation and the Chhidru Formation in the Salt Range of Pakistan, the Chitichun Limestone in southern Tibet, and the Basleo area of West Timor, and these correlations suggest a Wuchiapingian age. The fauna exhibits substantial links with both peri–Gondwanan and Cathaysian faunas, which may imply that it is a seamount biota originally located in the southern margin of the Neotethys during the Late Permian, and was later (in the early Cenozoic) displaced and became sandwiched into younger marine deposits in the collision process between India and Eurasia.

A biogeographically mixed late Guadalupian (late Middle Permian) brachiopod fauna from an exotic limestone block at Xiukang in Lhaze county, Tibet

A total of 17 brachiopod species belonging to 15 genera are recorded from a limestone block of about 3×4 km2 in the Indus–Tsangbo suture zone at Xiukang in Lhaze County of Tibet. The brachiopod fauna generally indicates a Late Guadalupian age (late Wordian–Capitanian, late Middle Permian) based on its association with the Timorites-bearing ammonoid fauna and the presence of the brachiopod Urushtenoidea crenulata. Palaeobiogeographically, the fauna exhibits transitional/mixed characters between the warm-water Cathaysian and cold to temperate Gondwanan faunas and may have developed on a carbonate build-up or seamount on the oceanic crust.

An ecologically mixed brachiopod fauna from Changhsingian deep-water basin of South China: consequence of end-Permian global warming

The Late Permian Shaiwa Group of the Ziyun area of Guizhou, South China is a deep-water facies succession characterized by deep-water assemblages of pelagic radiolarians, foraminifers, bivalves, ammonoids and brachiopods. Here we report 20 brachiopod species in 18 genera from the uppermost Shaiwa Group. This brachiopod fauna is latest Changhsingian in age and dominated by productides. The palaeoecologic and taphonomic analysis reveals that the brachiopod fauna is preserved in situ. The attachment modes and substratum preference demonstrate that the Shaiwa brachiopod fauna comprises admixed elements of deep-water and shallow-water assemblages. The presence of the shallow-water brachiopods in the Shaiwa faunas indicates the involuntary settlement of shallow-water brachiopods. The stressed ecologic pressure, triggered by warming surface waters, restricted ecospace and short food sources, may have forced some shallow-water elements to move to hospitable deep-water settings and others to modify their habiting behaviours and exploit new ecospace in deep-water environments. We infer that the end-Permian global warming and subsequent transgression event may have accounted for the stressed environmental pressure in the shallow-water communities prior to the end-Permian mass extinction.

Carboniferous brachiopods from the "Levipustula Fauna" in central-western Argentina : biostratigraphic, palaeoclimatic, and palaeobiogeographic implications

The “Levipustula fauna” is a relatively diverse fossil assemblage composed of brachiopods, bivalves, bryozoans, gastropods and crinoids that appears in glaciomarine sequences related to the Carboniferous glacial event that affected the central-western Argentinean basins. Brachiopods that characterize this fauna have been studied in some of the classical localities of the Argentine Precordillera in San Juan province.

In the Hoyada Verde Formation, the “Levipustula fauna” is usually located immediately above the glacial diamictite horizons and appears to be associated with the mudstones facies of the postglacial transgression. From a palaeoecological study, three brachiopod subfaunas are distinguished in this formation: the lower “Neospirifer” (“Trigonotretidae” gen. nov.) subfauna, above which the more diversified Kitakamithyris subfauna occurs, and the upper Levipustula subfauna, with the dominant species being attributed to Levipustula levis Maxwell. The Hoyada Verde fauna, as well those identified in the La Capilla Formation (Cerro El Morado locality), have been proposed as the typical “Levipustula fauna”. However, in the Leoncito Formation, the “Levipustula fauna” occurs in sandstones horizons located below the glacial diamictite beds. This fauna is poorly diversified and the brachiopods are characterized by “Neospirifer” (“Trigonotretidae” gen. nov.)-Septosyringothyris assemblage and Levipustula is not abundant. This fauna has been considered a colder “pre-interglacial fauna”.

The significant taxonomic, palaeoecologic and taphonomic variations of the “Levipustula fauna”, as well as its position in the glacial sequences, suggest an important palaeoenvironmental control related to Carboniferous glacial dynamics. From the palaeobiogeographic viewpoint, this fauna shows the highest affinity with the Eastern Australian basins from where it was previously described.

A new Brachiopod fauna from the early to middle permian of Southern Qinghai Province, Northwest China

A new brachiopod fauna is described from the Early and Middle Permian of Zadoi and Zhidoi counties, southern Qinghai (Changdu block), northwest China. This fauna includes 13 species in nine genera with Spinomarginifera concentrica n. sp. and Transennatia waterhousei n. sp. The Early to Middle Permian brachiopod fauna from southern Qinghai is very similar to the contemporary Cathaysian faunas of South China with which the new fauna shares 70 per cent of its species. On the other hand, the Qinghai brachiopods also demonstrate a significant link with the Permian brachiopod fauna of the Sino-Mongolian-Japanese Province in northeast China, as suggested by Marginifera septentrionalis and Attenuatella. In particular, the occurrence of the bipolar brachiopod genus Attenuatella suggests that southern Qinghai may have played an important role as a biogeographic stepping stone in the marine faunal interchanges between the northern and southern hemispheres during the Early and Middle Permian.

Studies on Australian hydroids : the genus Eudendrium and the fauna of the seagrass Amphibolis

An important Athecate genus, Eudendrium, and a group of species of the Thecata, the latter ecologically related by life on a common substrate, are reviewed. Eudendrium, hitherto poorly known in Australia, comprises 17 species, including 10 undescribed species with 71% Australian, and high provincial endemicity. Eudendrium may be a shelf genus avoiding turbulent oceanic waters. Species of Eudendrium are predominantly epizoic and some gregariously settling colonies may live for five years. Identification of sterile material is refined by using the cnidome in a key to classification. The species and population dynamics of hydroid epiphytes of the endemic southern Australian marine angiosperm Amphibolis were investigated with revision of historically vexatious taxa. In contrast with the northern hemisphere, no Athecata are associated with southern Australian seagrasses. Seventeen species from eight thecate families are associated with the two species of Amphibolis, including one undescribed species, H&lecium amphibolum, and one new record for Australia, Aglaophenia postdentata. The Lineolariidae is revised and a new genus, Millardaria, erected for a species from seagrass in Madagascar. The high endemicity (58%) and host-specificity of hydroids to Amphibolis is an evolutionary consequence of isolation of the seagrass dating from break-up of the Tethyan Sea. Hydroids occur throughout the year in the Amphibolis leaf canopy with a mean annual epiphytism of 44% on A. antarctica in the eastern continent and 86% in the western continent; epiphytism is 52% on A. griffithii in the western continent. Half of the eight important species are dominant epiphytes across the southern continent but the species and order of abundance varies regionally. Most are pioneer colonists with short, repetetive life-cycles lasting from weeks to a few months. Three species epiphytise the seagrass stems but only one is a leaf-canopy dominant. The canopy community comprises small, fast-growing species or dwarfed variants of species larger in other habitats: these ecomorphically constant forms are associated only with seagrass. Strategies for survival in the harsh Amphibolis environment include adnate colonies and gonothecae adnate or recumbent to the substrate, marked strengthening of the hydrorhiza, various hydrodynamic adaptations of the hydrotheca, early maturation and production of numerous small ova.

Effects of phytophthora cinnamomi on heathland flora and fauna of the Eastern Otway Ranges

The plant pathogen, Phytophthora dnnamomi, is a cause of dieback disease observed in sclerophyll vegetation in Australia, The effects of P. dnnamomi on flora and fauna were studied at two locations in heathland vegetation near the coastal town of Anglesea, Victoria. The pathogen was isolated from soils beneath diseased heathland plants. The extent of diseased vegetation was assessed by the presence and absence of highly sensitive indicator species, Xanthorrhoea australis and hopogon ceratophyllus. The characteristics of heathland vegetation exhibiting dieback disease associated with the presence of P. dnnamomi were investigated. Plant species richness was similar between diseased and non-diseased areas however diseased areas were characterised by significant declines in the cover and frequency of susceptible species, increases in resistant species and increases in percent cover of open ground. Compared to non-diseased areas, diseased areas exhibited fewer shrub species and decreased shrub cover. The percentage cover and number of species of sedges, lilies and grasses were higher in diseased areas. Structural differences were significant between 0-0.6 m with decreased cover of vegetation in diseased areas. Differences in structure between diseased and non-diseased areas were not as great as expected due to increases in the cover of resistant species. A number of regenerating X australis were observed in post-disease areas. Cluster analysis of floristic data could clearly separate diseased and non-diseased trap stations. The population dynamics and habitat use of eight small mammal species present were compared in diseased and non-diseased areas using trapping and radio-tracking techniques. The number of small mammal species captured in post-disease areas was significantly lower than non-diseased areas. Mean captures of Antechinus stuartii and Rattus fiisdpes were significantly lower in diseased areas on Grid B. Mean captures of Rattus lutreolus were significantly lower in diseased areas on both study grids. Significant differences were not observed in every season over the two year study period. Radio tracking revealed more observations of Sminthopsis leucopus in non-diseased vegetation than in diseased. Cercartetus nanus was frequently observed to utilise the disease susceptible X. australis for nesting. At one location, the recovery of vegetation and small mammal communities in non-diseased and diseased vegetation after fuel reduction burning was monitored for three years post-fire. Return of plant species after fire in both disease classes were similar, reaching 75% of pre-fire richness after three years. Vegetation cover was slower to return after fire in diseased areas. Of the seven small mammal species captured pre-fire, five were regularly captured in the three years after fire. General linear model analysis revealed a significant influence of disease on capture rates for total small mammals before fire and a significant influence of fire on capture rates for total small mammals after fire. After three years, the influence of fire on capture rates was reduced no significant difference was detected between disease classes. Measurements of microclimate indicate that diseased, burnt heathland was likely to experience greater extremes of temperature and wind speed. Seeding of diseased heathland with X. australis resulted in the establishment of seedlings of this sensitive species. The reported distributions of the mamma] species in Victoria were analysed to determine which species were associated with the reported distribution of dieback disease. Twenty-two species have more than 20% of their known distribution in diseased areas. Five of these species, Pseudomys novaehollandiae, Pseudomys fumeust Pseudomys shortridgei, Potorous longipes and Petrogale pencillata are rare or endangered in Victoria. Four of the twenty-two species, Sminthopsis leucopus, Isoodon obesulus, Cercartetus nanus and Rottus lutreolus am observed in Victorian heathlands. Phytophthora cinnamomi changes both the structure and floristics of heathland vegetation in the eastern Qtway Ranges. Small mammals respond to these changes through decreased utilisation of diseased heathland. The pathogen threatens the diversity of species present and future research efforts should be directed towards limiting its spread and rehabilitating diseased areas.

A late Changhsingian (latest Permian) deep-water brachiopod fauna from Guizhou, South China

A deep-water brachiopod fauna (20 species in 19 genera) is described from the Late Permian Shaiwa Group of Ziyun, Guizhou, South China. New species include Pygmochonetes? shaiwaensis and Martinia ziyunensis. This fauna is associated with deep-water assemblages of pelagic radiolarians, foraminifers, bivalves and ammonoids. The brachiopod faunal correlations and age constraints of the associated fossil groups suggest that the Shaiwa fauna is late Changhsingian (latest Permian) in age. The Shaiwa fauna superficially resembles the coeval deep-water assemblage from Guangxi, South China; both are characterized by a mixture of deep-water brachiopods and shallow-water elements.