📢 The Faculty of Economics at Chulalongkorn University is pleased to introduce the academic work presented at an international conference by Prof. Dr. Arnaud Zlatko Dragicevic.

📃 Paper Title: Assessing the Impact of Payments for Environmental Services on a Bioeconomic Supply Chain Equilibrium

📃 Conference Name: Australasian Agricultural & Resource Economics Society Conference (AARES 2024)

📅 Conference Dates: 6 - 9 February 2024

📍 Venue: Kambri, The Australian National University, Canberra, Australia

🎓 Organized by: Australian National University

• Abstract •
This study explores the effectiveness of Payments for Environmental Services (PES) in addressing both climate change and biodiversity loss within the framework of bioeconomic supply chain management. Our findings indicate that reductions exceeding $50%$ in both greenhouse gas (GHG) emissions and biodiversity loss are achievable. While PES are integral to this success, they are insufficient on their own. A synergistic approach that combines a moderate decrease in production levels due to the economic decoupling effect, heightened environmental awareness among stakeholders, and targeted monetary incentives is essential to realize such substantial reductions. Thus, PES are necessary but not sufficient to achieve a meaningful reduction in environmental footprint. The adoption of sustainable practices and improvements in resource efficiency are equally crucial. To substantiate our theoretical claims, we leveraged variational inequality methods within a multicriteria decision-making framework. Numerical simulations executed via an optimized machine learning algorithm provided robust evidence supporting our conclusions.