Payments for environmental services (PES) have attracted increasing interest as a mechanism to translate external, non-market values of the environment into real financial incentives for local actors to provide environmental services (ES).

Your Editorial 'Markets can save forests' (Nature 452, 127

CLIMATE change is "the greatest market failure the world has ever seen". That is the view of no less an authority than Nicholas Stern, former chief economist at the World Bank, and he has a point. As long as the market exacts no penalties from companies or industries that emit the gases that are beginning to transform the planet's climate, it can do nothing to keep pollution in check as economies grow. So is there some way to fix the market so that it punishes polluters and encourages greener growth? (Editorial)

In recent months, Delhi has seen unprecedented growth in star foreign visitors flying in by night to advise us on the impending dangers of climate change and hand out

Climate Change Rises On World Bank Agenda US: April 11, 2008 WASHINGTON - Climate change is now one of the World Bank's top concerns because of its expected impact on health and economic growth in developing countries, the bank's lead environmental economist said. Latin America, Sub-Saharan Africa and Asia are where global warming's damage will disproportionately be felt, and that makes it a key issue for the World Bank and other financial institutions aiming to foster development, said Kirk Hamilton, co-author of the Global Monitoring Report.

THE pain of rising interest rates on home owners could be curtailed and Australia's carbon emissions reduced while fighting inflation under a new economic policy now before the Federal Government. The policy by Harold Lubansky, a former managing director of the Stafford Group, has been viewed by members of the Government and the Opposition and has garnered interest from economists. Mr Lubansky proposes the creation of a National Climate Change Savings Scheme into which Australians earning a net income of $38,000 a year or more would contribute.

Utilities in Britain and four other European countries stand to gain windfall profits of up to

A venture capital company has bought the rights to ecosystem services from a 370,000-hectare rainforest reserve in Guyana. In return for its investment, London-based Canopy Capital will receive a percentage of any income that might one day be made from the reserve's ecosystem services. The company's hope is that these services will eventually become tradable commodities in the same way that carbon is today. Once Canopy Capital has recouped its investment, 80 per cent of further profits will go back to the reserve.

The United Nations conference on climate change, now on in Bangkok, is expected to produce an agreement to cut global emissions drastically by 2050.

The Annual Plan for Gujarat for the new fiscal year was on Tuesday pegged at Rs 21,000 crore at a meeting here between Planning Commission Deputy Chairman Montek Singh Ahluwalia and the Gujarat Chief

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