Property rights in natural resource management are important because they provide incentives for people to manage natural resources responsibly. When people have an ownership stake in a resource, they are more likely to take steps to protect it, use it sustainably, and share it equitably. Property rights also create a system of accountability, ensuring that those who manage the resource are held responsible for their actions. Finally, property rights can provide a mechanism for resolving disputes over natural resources, promoting the peaceful resolution of conflicts. Property rights also promote economic efficiency by allowing private individuals and companies to reap the benefits of their investments in natural resources. This encourages innovation and technological advances that can improve the management of natural resources. Finally, property rights protect against externalities, such as pollution, by creating incentives to manage resources responsibly.