New book evaluates over 30 cases studies to glean answers to the overarching question of how PES can be made most cost and environmentally effective.
4 October 2010: The Organisation for Economic Co-operation and Development (OECD) has published a book titled “Paying for Biodiversity: Enhancing the Cost-Effectiveness of Payments for Ecosystem Services” (PES) that aims to identify good practice in design and implementation of PES schemes.
The book evaluates over 30 cases studies to glean answers to the overarching question of how PES can be made most cost and environmentally effective. Authors conclude that this is achieved by, inter alia: removing perverse incentives; clearly defining property rights, PES goals and objectives; developing a robust monitoring and reporting framework; identifying long-term buyers, sellers and sufficient long-term financing; and differentiating payments based on opportunity costs of ecosystems service provision. [OECD Press Release] [Executive Summary]