Payments for Ecosystem Services (PES)
31.03.2021
Innovative Approach to Finance Nature Conservation
Private entities that usually depend on nature’s benefits can ensure the long-term success of their operations, increase financial security, and make long-term savings if they consider natural resources in their plans and strategies. Still being relatively new to Armenia, Payments for Ecosystem Services (PES) schemes reveal a potential to increase the financing for the management of natural resources by drawing on public and private funds thus benefiting both businesses and communities alike. In the framework of IBiS programme, the RA Ministry of Environment jointly with GIZ, has explored the feasibility of Payments for Ecosystem Services (PES) scheme in Armenia, specifically for the case of Tsaghkadzor.