Respondents saw scope for a range of incentive measures to assist them in implementing BMPs ( Figure 30 ). A “ toolbox ” approach is the best way to support adoption .
The survey also explored the matter of risk given its importance to adoption decisions . In particular , respondents were asked to rate sources of risk and their risk management strategies . These data were analysed and risk perceptions linked to the implementation of BMPs ( Greiner et al . 2009 ). This research yielded a number of important insights .
• Landholders with high conservation and lifestyle motivation had demonstrably higher adoption rates of BMPs than landholders within the same industry and region who held strong economic / financial and social motivations . This suggests that landholders with strong pursuit of lifestyle and conservation goals are intrinsically motivated to adopt conservation practices . In contrast , landholders who were strongly motivated by economic / financial and social goals appeared to be looking for external motivators such as government incentives to implement conservation practices .
• A majority of landholders regarded themselves as risk takers with regard to the ‘ introduction of new practices ’. Indeed , the ‘ implementation of BMPs was identified as a risk management strategy in its own right and was rated as most important among a suite of risk management strategies . This is interesting in the sense that some BMPs might be seen to increase the risk of production , for example wet season spelling of certain paddocks reduces the flexibility to move stock . On the other hand , BMPs are indicative of improved farm management capability and associated knowledge of farming systems , which in turn are fundamental to managing risk and improving financial performance — which is why most of the BMPs form part of recommended grazing land management practices .
• Graziers saw themselves as susceptible to a variety of sources of risk , most notably drought , prices in input and commodity markets , institutional risk ( government regulation ), family health and environmental factors such as vegetation change , weed infestation and cattle disease . They saw themselves as risk takers ( with respect to adopting innovations ) and relative risk attitude was indeed strongly correlated to the stated implementation of BMPs including ‘ rotational grazing ’, ‘ early de-stocking in preparation for drought ’ and ‘ adjustment of stock numbers to pasture condition ’.
• There was a quantifiable connection between conservation and lifestyle motivations , the existing level of implementation of some BMPs , and the view that these conservation practices assisted in managing risk , particularly climate risk . Economically and socially motivated graziers specifically did not regard BMPs as a worthwhile element of their risk management strategy — they might attribute a higher option value to delayed adoption . The expected return and risk premium — the deduction for risk aversion — of conservation practices determine certainty equivalents of the adoption / investment decision .
• This research suggests that the design of conservation policies and programs at the regional level ought to be guided by a better understanding of the motivations and risk attitudes of farmers so as to be able to tailor and bundle incentives for maximum effectiveness and efficiency .
• The general applicability of the adoption theory resulting from this research was demonstrated , inter alia , by a subsequent landholder survey conducted in the Wet Tropics ( Emtage and Herbohn 2012a , b ). That research further showed that motivations influenced management objectives , use of information and trust between landholders . It corroborates the call for different strategies to encourage adoption of BMPs including a mix of information campaigns , training and incentive programs provided by varying organisations that have the trust of landholders .
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