ABSTRACT
In this chapter, I will examine the spectrum of water planning approaches applied by each jurisdiction to allocate water between consumptive and environmental uses. At one end of the spectrum is Australia, with a highly regulated approach to environmental water requirements, in which the state applies statutory water planning measures to set limits on the market that are designed to ensure that certain environmental objectives are met. Under this approach, water markets, and therefore environmental water transactions, are nested within water planning frameworks that are designed to achieve sustainable outcomes. The state then delegates ‘rowing’ functions to operational agencies within the state or to private actors (i.e. the ability to carry out water transactions). The MEWA frameworks in Colorado and Oregon fall at the other end of the spectrum, in that the state limits its role to the protection of property rights, but participates in the market on a voluntary basis to provide for particular instream flow measures.
