'Harnessing Private Sector Conservation of Biodiversity' was released on 4 December 2001. This paper provides an economic perspective on the role the private sector can play in conservation of biodiversity. It focuses on opportunities for governments to facilitate biodiversity conservation by enabling markets to allocate resources better. With more than 60 per cent of Australia's land area under private management, conservation cannot be adequately addressed without private sector participation. The Commission's Research Paper discusses the importance from both an ecological and economic perspective that private sector provision of biodiversity conservation is as efficient and effective as possible. The report found that governments could improve both biodiversity conservation and economic outcomes by removing unnecessarily restrictive regulatory constraints on private resource users and managers, while clarifying their rights and responsibilities for biodiversity conservation and establishing appropriate cost sharing frameworks.