Archive for October, 2012

Can Nature-based Tourism Help Conservation?

Tuesday, October 9th, 2012

Concern has been expressed worldwide about the continuing global loss of biodiversity and socially acceptable policies are being sought to slow its rate of loss. Nature-based tourism adds economic value to the stock of wild biodiversity and is seen by many (especially when it involves ecotourism) as being an effective contributor to nature conservation. The fact that tourism is the world’s largest industry and that nature-based tourism is its most rapidly growing component suggests that it has a major impact on the state of natural environments. However, nature-based tourism (depending on its attributes) can be supportive or destructive of biodiversity, or may even have little impact on it, as Clem Tisdell and Clevo Wilson have discovered.

In our book ‘Nature-based Tourism and Conservation’, we identify and explore the type of factors that enable tourism to make a positive contribution to nature conservation, and also discuss its limits as a means for conserving biodiversity in the wild and possible negative environmental consequences.

The complete blog can be obtained from the Edward Elgar Blog site.

(more…)

Eyes wide shut: Are finance managers looking but don’t see?

Tuesday, October 9th, 2012

By Shane Murray

In the wake of poor returns or worse, substantial loss of wealth, Financial Managers wear the blame. Like a phoenix born from the ashes of ruin, the angry mob emerges and sprays charge at the financial sector, labelling their behaviour as reckless, their knowledge of financial markets absent and their understanding of risk as infantile. In my opinion this is a justified resolve as from inception, Financial Managers have been monitoring risk with their eyes wide shut. The inherent flaws of contemporary risk models used by Financial Institutions are well known, as too are the means of manipulating portfolios to accumulate risk not captured by their estimates. Such behaviour is reckless and wholly undermines why risk is quantified in the first place. But what choice do Traders have? Year after year shareholders demand bigger and better returns and Financial Managers find themselves in a precarious situation. Should they be reducing the exposures when the mutters of disaster begin to surface, or do they turn a blind eye and rely on their risk metrics as an appropriate scapegoat? After all, taking the safer approach, reducing risk and yielding a lesser return spell certain crucifixion at the hands of the same angry mob. So it seems the problem is twofold. Thankfully, with so much on the line, a collaborative approach to risk supervision is emerging through the Basel accords which aim to dispel such irresponsible behaviour. Unfortunately such endeavours are yet to curb the insatiable desires of the mob, which Financial Managers seem more than willing to oblige.

(more…)


Privacy | Copyright matters | Accessibility
Contact us | Feedback | Disclaimer
Opinions expressed in this blog are those of the individual contributors only.
QUT Home | Blog Home