The Case for International Payments for Ecosystem Services
Edited by Joshua Bishop and Chloe Hill
Chapter 1: Introduction to international payments for ecosystem services
● Existing environmental finance and regulations are increasingly recognized as inadequate to address biodiversity loss and ecosystem degradation. ● This has led to growing interest in the use of innovative financial mechanisms and positive incentives for the conservation and sustainable use of biodiversity, and for more equitable sharing of its benefits. ● 'Payment for ecosystem services' (PES) schemes have gained prominence as a means to mobilize resources and encourage conservation on private lands. ● By bringing together 'buyers' and 'sellers' of biodiversity and ecosystem services, PES creates a financial incentive to ensure their continued provision. ● Interest in scaling up PES at the international level (IPES) is a more recent trend, largely inspired by the emerging international trade in greenhouse gas emission allowances and offsets, or 'carbon market'. ● The search for international financial mechanisms capable of addressing other environmental problems besides climate change reflects growing recognition of the significant international benefits associated with biodiversity and ecosystem services, as well as the need for a significant increase in, and more efficient use of, both public and private finance for conservation. ● This book explores the arguments for and precursors of IPES, while also identifying practical barriers and possible ways to overcome them.