In a world where natural capital is often unpriced or undervalued, thus making resource exploitation very lucrative, environmentally degrading activities will continue to dominate the economy. The past decade has seen a bourgeoning interest in scaling up private investment to address persistent socioeconomic and environmental challenges globally. The recently formulated sustainable development goals and global climate agenda have further heightened the urgency for a more holistic and integrated conceptualization of transitioning towards a sustainable low-carbon economy.

Agri-environmental schemes have become an effective policy measure to prompt farmers to protect rural farmland and landscapes. In recent years, 17 provincial governments including Sichuan, Jiangsu, Shanghai, Guangxi and Guangdong have shown increasing interest in promoting local experimentation with agri-environmental schemes.

Where rights over natural resources are contested, the effectiveness of conservation may be undermined and it can be difficult to estimate the welfare impacts of conservation restrictions on local people. In particular, researchers face the dilemma of estimating respondents’ Willingness To Pay (WTP) for rights to resources, or their Willingness To Accept (WTA) compensation for foregoing these rights.