Making sustainability happen: market mechanisms for sustainable neighbourhood development

This paper presents the concept of market mechanisms for sustainable community development (SCD). The research examined definitions of SCD, policy development and market mechanisms; used focus groups to explore how these concepts have been applied in British Columbian urban centres; developed, tested and revised a research framework for exploring market mechanisms and community policy development; and prepared two case studies of “sustainable neighbourhood” development in B.C. The research was motivated by contemporary interest in sustainability; the lack of clarity around market mechanism and SCD approaches; and the “planning-implementation gap” faced by many communities. Market mechanisms for SCD comprise instruments, policies and practices that have been expressly designed to mobilize citizens and influence market outcomes for the improvement of community capital. Their successful implementation requires the alignment of all five elements of the research framework: market actors, community values & vision, governance & decision-making structures; policy development processes and policy design.