Institutional impediments to conservation of freshwater dependent ecosystems.

When freshwater resources become scarce there is a trade-off between human resource demands and environmental sustainability. The cost of conserving freshwater ecosystems can potentially be reduced by implementing institutional reforms that endow environmental water managers with a permanent water entitlement and the capacity to store, trade and release water. Australia's Murray Darling Basin Plan (MDBP) includes one of the world's most ambitious programs to recover water for the environment, supported by institutional reforms that allow environmental water managers to operate in water markets.