Abstract
Since the early 1970s, governments in developed countries have initiated plans to transform resource-based industries into eco-friendly and less resource consumptive industries to support sustainable development. During the implementation of economic transformation plans, government leadership and high compensation payments for economic transformation have become two essential tools for ensuring the effectiveness and efficiency of economic transformation. Ecological compensation can be interpreted as the payments for ecosystem services and natural resource protection, compensation for the opportunity cost of development, payments for ecosystem damage and natural resource consumption, and the cost of environmental pollution, which is paid through monetary or economic compensation. Therefore, the ecological compensation mechanism (ECM) is an important economic means to impose restrictions on environmentally damaging development, provide economic incentives for eco-friendly development, encourage environmental protection, and establish sustainable and secure financial funds for ecological restoration and environmental remediation.
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Wu, J., Chang, IS. (2020). Ecological Compensation. In: Environmental Management in China. Springer, Singapore. https://doi.org/10.1007/978-981-15-4894-9_16
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DOI: https://doi.org/10.1007/978-981-15-4894-9_16
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