Payments for Ecosystem Services (PES)
A voluntary transaction where a well-defined ecosystem service (or a land-use likely to secure that service) is being ‘bought’ by a (minimum one) ecosystem service buyer from a (minimum one) ecosystem service provider if and only if the ecosystem service provider secures ecosystem service provision.
Wunder 2005 1 (adopted by UNEP 2009 2, UNDP 2019 3, DEFRA 2013 4)
References & Websites
- Wunder, S. 2005, Payments for ecosystem services: Some nuts and bolts, Centre for International Forestry Research Occasional Paper No. 42.
- United Nations Environment Programme (UNEP), 2009, Making Payments for Ecosystem Services Work
- United Nations Development Programme (UNDP), 2019,Payments for Ecosystem Services. Financing Solutions for Sustainable Development
- UK Government Department for Environment, Food & Rural Affairs (DEFRA), 2013, Payments for Ecosystem Services: A Best Practice Guide. London, UK.