A payment for ecosystem services (PES) scheme is a mechanism whereby payments are provided in exchange for the management of land to maintain or enhance the health of the ecosystem, thereby providing benefits for the public or specific beneficiaries, e.g. carbon storage or control of water...

A range of legal tools is increasingly being used for the conservation of biodiversity. These tools include conservation covenants, biodiversity offsets and payment for ecosystem services. There are benefits to these approaches, but also challenges to be met if these mechanisms are to be applied...