INTRODUCTION
LITERATURE REVIEW
RESEARCH METHODOLOGY
DATA PRESENTATION AND ANALYSIS
SUMMARY, CONCLUSION AND RECOMMENDATIONS
Abstract
Forests provide numerous ecosystem services such as carbon sequestration, water filtration, biodiversity habitat, and erosion control. However, the value of these services is often not reflected in market prices, creating a disincentive for sustainable forest management. Payment for ecosystem services (PES) programs can help address this issue by providing compensation to forest owners and managers for conserving forests and the services they provide. This project will explore the potential for developing a PES scheme focused on the forestry sector. It will review existing PES programs around the world, identify which ecosystem services are priorities in the local context, and propose a PES framework tailored to the needs of local forests and communities. The goal is to incentivize sustainable forestry practices while generating financial and social benefits.
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