OAS Publishes “Legal Framework for Payment for Ecological Services in Latin American and the Caribbean: Analysis of Eight Countries”

The Organization of American States (OAS) recently published a guide called “Legal Framework for the Payment for Ecological Services in Latin American and the Caribbean: Analysis of Eight Countries.” The publication analyzes the tendencies, lessons and experiences that resulted in the implementation of PES in 8 member states: the Dominican Republic, Bolivia, Chile, Costa Rica, Colombia, Ecuador, Panama and Peru, as well as the challenges and support connected to the legal and institutional framework in its implementation.

the Department of Sustainable Development (DSD) of the OAS has participated in the search for an alternative, innovative and market-based approach, such as Payment for Ecological Services,

In recent year, the Department of Sustainable Development (DSD) of the OAS has participated in the search for an alternative, innovative and market-based approach, such as Payment for Ecological Services, to deal with the administration of natural resources, protection of the environment and conservation of biodiversity among member countries.

As an innovative mechanism that can assign recognizable market value to services offered to the ecosystems, the PES is increasingly being used in Latin America to promote conservation activities and sustainable development. Nevertheless, as is the case with all economic instruments, the adoption of successful PES schemes requires a clear legal framework and institutional efficiency.

The Spanish-language study, which in the section dedicated to the Dominican Republic refers to the Cuenca Alta Project of the North Yaque River, does a review of the existing legal infrastructure and conditions necessary to support the development and market consolidation of Latin American and Caribbean environmental services department in such areas as land tenure and property rights, forests, biodiversity, water and fiscal legislation. In addition to the legal analysis, the guide also includes a review of institutional and economic aspects, identifying methodologies used to carry out the PES transactions.

The publication is very useful for the promotion of successful PES systems now that critical topics, best practices and legal conditions have been identified as well as the necessary institutions for development and implementation of the PES systems that contribute to the sustainable management of the ecosystems and environment systems these provide.