For Immediate Release: August 19, 2003

SAN FRANCISCO – The Pacific Research Institute for Public Policy (PRI) and Reason Public Policy Institute today released a new study titled Saving Endangered Species Privately: A Case Study of Earth Sanctuaries Ltd., by Michael De Alessi, director of natural resource policy for the Reason Public Policy Institute and fellow in environmental studies for the Pacific Research Institute.

Saving Endangered Species Privately examines the case of Earth Sanctuaries, Ltd. (ESL), the first publicly traded conservation company in Australia to base its business model on endangered species and wildlife conservation. Frustrated by the ineffectiveness of public conservation efforts in Australia, John Wamsley, environmentalist and entrepreneur, founded ESL in 1985. With private conservation efforts and the marketplace as its tools, ESL has demonstrated measurable results by successfully reintroducing 25 mammal species to their former range as of 2002.

“The market provides a measure of accountability which is absent when conservation is publicly financed,” said De Alessi. “In order to stay in business, ESL must demonstrate success in conserving species and must continue to draw visitors to its sanctuaries. This focus on the bottom line provides a powerful incentive, and wildlife in Australia has benefited enormously.”

As of the last few years, financial challenges put the company to the test. However, after a recent restructuring, the company is now a leaner and more focused operation. “Despite a few recent stumbles, ESL remains a remarkable demonstration of the power of private conservation, and of marketplace, to allow entrepreneurs to do good while doing well,” said De Alessi.

“ESL proved that turning species and other environmental amenities into tangible assets is the path to sound stewardship,” said De Alessi. “The results cannot be denied and for legislators and policymakers, the lessons are clear – private conservations works.”

To download the study, visit: http://liberty.pacificresearch.org/publications/id.468/pub_detail.asp

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About PRI
For more than two decades, the Pacific Research Institute for Public Policy (PRI) has championed individual liberty through free markets. PRI is a non-profit, non-partisan organization dedicated to promoting the principles of limited government, individual freedom, and personal responsibility.