Oxford University Press's
Academic Insights for the Thinking World
Helen Keller once said, “The only thing worse than being blind is having sight but no vision.” The sustainability revolution is unstoppable. Signs are everywhere; policy makers and the private sector are veering towards a decarbonized development model. The adoption of the Paris Agreement on Climate Change on December 2015 marked the political turning point.
Payments for ecosystem services (PES), also known as payments for environmental services (or benefits), are incentives offered to farmers or landowners in compensation for proper land-management that provides ecological services. Among these benefits we can mention conserving animal and plant species, protecting hydric resources, conserving natural scenery, and storing carbon.