Payments for environmental (ecosystem) services (PES)
Definition
The voluntary payment by a (minimum one) buyer to a (minimum one) provider to "buy" an environmental service (or a land use likely to secure that service), if, and only if the provider secures the environmental service.
Source
"Glossary", Center for International Forestry Research (CIFOR),"Moving Ahead with REDD. Issues, Options and Implications "Center for International Forestry Research, Indonesia, 2008. http://www.cifor.cgiar.org/publications/pdf_files/Books/BAngelsen0801.p…
Alternative definition
A Contractual transaction between a buyer and a seller for an ecosystem service or a land / management practice likely to secure that service.
Alternative source
TRG(A16.10)/KCCM, FAO, 2008