Law Commons^™

Designing Payments For Ecosystem Services, James Salzman

Faculty Scholarship

This Policy Series by James Salzman brings attention to a rapidly developing phenomenon—payments for ecosystem services (PES).

Salzman, the Samuel F. Mordecai Professor of Law and the Nicholas Institute Professor of Environmental Policy at Duke University, explains when and where ecosystem services can be provided by voluntary markets rather than government actions. The key to understanding how PES work is rooted in the basis of any voluntary market transaction—gains from trade. One party agrees to take action because another party offers an incentive. Both parties benefit. A beekeeper, for example, brings her hives to an orchard to provide pollination services …

Ecosystem Services In Decision Making: Time To Deliver, James Salzman, Gretchen C. Daily, Stephen Polasky, Joshua Goldstein, Peter M. Kareiva, Harold A. Mooney, Liba Pejchar, Taylor H. Ricketts, Robert Shallenberger

Faculty Scholarship

Over the past decade, efforts to value and protect ecosystem services have been promoted by many as the last, best hope for making conservation mainstream – attractive and commonplace worldwide. In theory, if we can help individuals and institutions to recognize the value of nature, then this should greatly increase investments in conservation, while at the same time fostering human well-being. In practice, however, we have not yet developed the scientific basis, nor the policy and finance mechanisms, for incorporating natural capital into resource- and land-use decisions on a large scale. Here, we propose a conceptual framework and sketch out …