Global Biodiversity Finance

Global Biodiversity Finance

The Case for International Payments for Ecosystem Services

Edited by Joshua Bishop and Chloe Hill

Global Biodiversity Finance sets out the case for scaling up Payments for Ecosystem Services (PES) at the international level. The book explores how International Payments for Ecosystem Services (IPES) can help capture the global willingness-to-pay for biodiversity, and how the resulting revenues can be used efficiently to encourage conservation and the sustainable supply of ecosystem services, on which we all depend. This timely volume includes examples of promising initiatives from around the world, supporting an agenda for action to make IPES a reality.

Chapter 8: Matching supply and demand in IPES: the case of the GreenPalm Initiative

Louise A. Gallagher, Bob Norman and Robert T. Zuehlke

Subjects: economics and finance, environmental economics, environment, ecological economics, management natural resources, valuation

Extract

● Broad stakeholder engagement is necessary to build support for international market mechanisms for biodiversity and ecosystem services. ● The transaction costs of building sustainability into supply chains are a 'make-or-break' factor in the success of such markets. ● Distinguishing a physical product from its sustainability premium is an innovative method for circumventing the complex challenges of product traceability. ● The voluntary nature of the GreenPalm initiative has been a positive attraction for both producers and buyers. ● Scalability should be built in from the beginning to give room for growth when new markets have established a track record, for example tracking volumes of certificates being traded as compared to tonnes of physical palm oil. ● Building a market incrementally allows for lessons to be learned before embarking on more challenging goals, for example drawing smallholders into the market.

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