The Case for International Payments for Ecosystem Services
Edited by Joshua Bishop and Chloe Hill
Chapter 8: Matching supply and demand in IPES: the case of the GreenPalm Initiative
● 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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