About the seminar The management of Victoria’s biodiversity typically involves the regulation of clearing of native vegetation and investment in the protection and restoration of native vegetation. The role of government is to efficiently internalise the negative externality associated with various forms of land-use where the impact on the environment and third parties is not considered. In the absence of a universal metric for biodiversity and an associated ‘value’, regulation has established a hierarchy of: avoid; minimise; offset. This has created an ineffective allocation of resources and a high regulatory burden in certain circumstances. I will discuss advances in market-based mechanisms and other economic techniques used to support efficient regulatory decision-making and investment in Victoria’s biodiversity. About the speaker Peter Betson Current Role Executive Director, Environment and Landscape Performance – October 2010 to present day (DEPI)The Executive Director is responsible for leading the development of native vegetation, wildlife and threatened species regulation, the design and administration of environmental grants programs, landscape scale decision-tools and spatial modelling and scientific research. Previous Roles Executive Director, Urban Water Policy – August 2010 to October 2012 (DEPI)The Executive Director is responsible for leading and developing advice on medium to long term urban water policy issues and programs, based on robust analysis, particularly in relation to regulatory and institutional arrangements, market development and facilitation, efficient pricing, and efficient utilisation of all urban water sources, to support the successful implementation of economic, social and environmental reform. General Manager (Acting) -  ACCC – June 2009 to January 2010The Acting General Manager was responsible for the strategic direction of the branch and represented the ACCC in key policy negotiations. The role was also responsible for the provision of strattegic direction regarding infrastructure pricing, water planning and management and marketand trading rules under the Water Act 2007 (Cth) Murray-Darling Basin reforms. Director, Water Branch – ACCC – November 2007 to August 2010The Director of the Water Branch was responsible for the development of advice to the Minister ofthe making of water change rules and the monitoring of those rules under the Commonwealth Water Act. The Director also provided specialist advice to the Australian Energy Regulator in its 2010 Victorian distribution electricity price review. Please register for this event here: https://esavic2014pd9.eventbrite.com.au