Countries around the world are embracing “payments for ecosystem services” (PES) as a verifiable approach to protecting biological diversity and mitigating climate change, according to research conducted by the Worldwatch Institute for the publication Vital Signs Online. PES are financial arrangements designed to protect the many benefits that are provided by the natural environment. They include payments for projects that invest in biodiversity and watershed protection, ecosystem restoration, and carbon capture in forests.
“Nearly 60 percent of all ecosystem services are being degraded or used in an unsustainable manner,” said Alexander Ochs, Director of Climate and Energy at Worldwatch. “With PES, we can put a monetary value on these important services, from water filtration to carbon sequestration, to ensure that they are being properly sustained for the benefit of both people and the planet.” PES schemes aim to encourage a net increase in benefits that would not otherwise have occurred without the financial incentive, a concept known as providing “additionality.” Read More
