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5
REWARDING BENEFITS THROUGH PAYMENTS AND MARKETS
Rewarding benefits through
payments and markets
Biodiversity provides a range of ecosystem services 1
that benefit people locally, nationally and internationally.
The provision of these services stems directly from
natural processes, although management interventions
are often required to maintain, develop or protect them.
Many are not priced or are underpriced in the markets
which means that existing economic signals may not
reflect the true value of natural capital.
Chapter 5 focuses on payment and market-based
tools to reward private and public actors who maintain
the flow of services that benefit society. 5.1 explains
how schemes delivering payments for ecosystem services
(PES) actually work, drawing on lessons learnt
from existing programmes and setting out indicators
for improved design and implementation. 5.2 focuses
on international PES, in particular the proposed REDD
(Reducing Emissions from Deforestation and Forest
Degradation) mechanism being developed under the
UN Framework Convention on Climate Change, and
“We never know the worth of water 'til the well is dry”.
also considers emerging initiatives to reward a wider
range of biodiversity-related services across all ecosystems.
5.3 assesses the strengths and weaknesses of current
reward structures for Access and Benefit Sharing for
genetic resources (ABS) that are being addressed
through negotiations for an international ABS regime
within the Convention on Biological Diversity. 5.4
discusses how land, property and income tax regimes
could be used more systematically to encourage
private and public actors to commit to long-term
conservation and how compensation payments can be
shifted towards a more positive focus.
Lastly, the scope to stimulate and better target market
supply and demand for goods and services produced
with lower environmental impact are discussed in 5.5
(eco-labelling and certification schemes) and 5.6
(Green Public Procurement (GPP) policies).
TEEB FOR NATIONAL AND INTERNATIONAL POLICY MAKERS - CHAPTER 5: PAGE 5
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