In recent years, development policy has responded to an increasing concern about natural resource degradation by setting up innovative payment for environmental services (PES) programs in developing countries. PES programs use market and institutional incentives in order to meet both environmental and poverty alleviation objectives. However, their optimal design, implications for the rural poor, and how these initiatives integrate into international treaties on global warming and biodiversity loss are still being discussed. This book addresses these issues by scrutinizing analytical tools,...