Payment for Ecosystem Services (PES) are rapidly emerging in LAC as complementary conservation measures to classic command and control policies. The majority of the PES programmes being implemented so far are focused on protecting headwaters in order to ensure the provision of water related services for urban areas. Carbon and biodiversity markets are less developed yet.
Willaarts, B. A., Fedorova, O., Arévalo, D., Mora de la Mora, G. de la, Echavarría, M., López Gunn, E. y Phumpiu Chang, P. (2014). Legal framework and economic incentives for managing ecosystem services. En: Willaarts, B. A., Garrido, A., M. y Llamas, M. R. (Eds.). Water for food and well-being in Latin America and the Caribbean: social and environmental implications for a globalized economy (pp. 365-384). Routledge.