Aim of the research: • Learnings of system harmonization in Western Sydney • Requirements to succeed in trans-disciplinary engaged research • "if you were designing system harmonization again, based on the WISER experience what would you do to ensure that it worked?"

Our research in Western Sydney (Technical Report No. 08/08) identified the need for greater innovation in water use by moving from a substantially regulatory system to a more market driven system which expands the range of water related services that can achieve economic value through an environmental services market concept. The need for such a market approach reflects the current political economy of Natural Resource Management (NRM) decision making in peri-urban Australia, which results in continued resource depletion and degradation; institutional barriers to innovative solutions; and high transaction costs in affecting change. An environmental market driven system would ideally shift decision making from the political economy to a market economy and result in a lessening of transaction costs and facilitate greater innovation. For such a market to exist requires firstly the environmental goods and services (or commodities) clearly identified; and secondly the required market structure to enable trade. Martin et al. (2007) proposed an environmental business model for providing the groundwork for an environmental market structure to enable trading. What is missing to complement this market structure is a consistent methodology and classification system to identify ecosystem services as viable commodities. This technical report provides a conceptual framework for identifying and valuing ecosystem services in peri-urban Australia using South Creek sub-catchment in Western Sydney as a case study.

Some sectors of society wishing to sec commerce adopt high standards of corporate citizenship may feel that those managers who do not enthusiastically embrace voluntary social or environmental reporting are trying to avoid their obligations to the broader community. This may be a naive and unfair judgement. The job of the corporate manager is to use other people's money to meet other people's goals. With the role comes a moral and legal responsibility. A challenge for the responsible steward is to balance the private interest of the owners against the public desire for more information about corporate social performance. In this chapter, we explore the line between a narrow perspective on a manager's legal responsibility to be frugal with corporate resources, and the growing expectation that management will spend some of these resources on corporate reporting that may in itself increase pressure on the corporation to spend further resources pursuing social ends.

The overall aim of this document is to provide a foundation for understanding the opportunities and potential risks of harmonization of environmental regulation and regulatory practice across Australia. The focus adopted was intra-national harmonisation of environmental laws. A multi-method approach was undertaken including the following: 1. Desktop research and review of relevant literature and legislation; 2. Key informant data from discussions with members of the Harmonisation of Environmental Regulation Project Team; and 3. Three case studies: US Pollution, NSW Planning and Hazardous Waste.

This report investigates the impacts of different forms of transaction costs upon the effectiveness of legal and institutional structures intended to improve urban and peri-urban water management. The report is based upon detailed investigation of the implementation of water management policy in peri-urban Sydney.

This report captures the lessons learned by a group of researchers from a variety of disciplines through a multi-year multi-disciplinary and applied research program. Its purpose is to provide evidence to support improved trans-disciplinary research practices.