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Payments for Ecosystem Services

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Conservation of Tropical Rainforests

Abstract

Payments for ecosystem services come in several different conservation financing instruments such as biodiversity offsets, species banking, watershed protection payments, mitigation banking, and forest carbon markets, particularly Reducing Emissions from Deforestation and forest Degradation (REDD+). The “+” in REDD+ includes REDD along with forest conservation, sustainable forest management, and the enhancement of carbon stocks. The author presents an historical overview, provides more details on the mechanisms, presents four case studies, and then undertakes both a financial analysis and a policy analysis, along with a future outlook.

The 4 case studies are the Purus Project, the Rimba Raya Biodiversity Reserve REDD+ Project, the Kasigau Wildlife Corridor REDD Project—Phase I Rukinga Sanctuary, and the Rio Tinto QMM Biodiversity Offset Project. The Purus Project is the first private REDD+ project in Acre, Brazil—which is widely seen as the leading subnational jurisdiction working on REDD+-related initiatives—to achieve dual validation and verification to the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCBS) with Gold Distinction. The Rimba Raya Biodiversity Reserve REDD+ Project is located on the island of Borneo within the Central Kalimantan province of Indonesia. The Project was the first REDD+ project in the world to be validated to the VCS and also the first REDD+ project in the world to achieve Triple Gold validation under the CCBS. Furthermore, this was the first REDD+ project to be approved in Indonesia and addresses all 17 of the United Nations’ Sustainable Development Goals (SDGs). The Kasigau Wildlife Corridor REDD Project—Phase I Rukinga Sanctuary is the first VCS REDD+ project to complete verification and issuance. The Project is located in Kenya between Tsavo West and Tsavo East National Parks. The Project is in the process of reducing 7.5 million mtCO2e over the first 30 years and helped spur additional projects. The Rio Tinto QMM Biodiversity Offset Project is located in Madagascar. Rio Tinto, to reduce the impact at the QMM Project, has followed the mitigation hierarchy to avoid impacts on endangered species and threatened habitats, then minimized any impacts when avoidance was impossible, followed by rehabilitating or restoring degraded habitats, and then used biodiversity offsets when necessary.

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Notes

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  126. 126.

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  137. 137.

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  138. 138.

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  139. 139.

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  140. 140.

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  142. 142.

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  143. 143.

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  144. 144.

    Bateson, Matthew. “Biodiversity Offsets: A Conservation Mechanism for the Private Sector.” Accessed April 4, 2017. http://www.oecd.org/tad/sustainable-agriculture/Matthew%20Bateson%20Rio%20Tinto%20OECD%20Biodiversity%20Offset%20Presentation.pdf. 7.

  145. 145.

    Lowry, Dr. Pete. Interviewed by Brian McFarland. April 2017.

  146. 146.

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  147. 147.

    Ibid.

  148. 148.

    Ibid.

  149. 149.

    Ibid.

  150. 150.

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McFarland, B.J. (2018). Payments for Ecosystem Services. In: Conservation of Tropical Rainforests. Palgrave Studies in Environmental Policy and Regulation . Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-63236-0_11

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