Global Biodiversity Finance
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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.
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Chapter 5: Cost-effective targeting for IPES

Tobias Wünscher, Stefanie Engel and Katia Karousakis

Extract

● Any international payment for ecosystem services (IPES) scheme is likely to face a limited budget, hence attention must be paid to how payments can be targeted most effectively, that is, to those activities and locations for which benefits and costs show the most favourable combination. ● Key criteria for targeting IPES are likely to include benefit, cost and risk. Additional targeting criteria could include readiness, leakage and adverse effects. ● Defining the objectives or benefits of IPES is crucial but may be challenging due to the diverse characteristics and services provided by ecosystems, as well as competing stakeholder interests. ● Data availability is one of the main constraints on effective global targeting. A stepwise selection approach could partly overcome this problem. ● Several global 'first-step' targeting approaches already exist for biodiversity and ecosystem services, with varying applicability to IPES. ● Despite growing consensus on the importance of costs as a factor in conservation decisions, few existing global targeting approaches take costs into consideration.

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