In the context of the Convention on Biological Diversity (CBD) strategy for resource mobilisation, this article aims to provide an economist’s view that can clarify the terms of the debate on Innovative Finance Mechanisms (IFMs) and especially on Maket-Based Instruments (MBIs). It would thus serve as a compass for decision makers, practitioners and scientists, and favor a more informed debate at COP11 on these matters.
After identifying categories of instruments with similar economic characteristics covering the broad spectrum of MBIs and reviewing MBIs for biodiversity in the scientific literature, the analysis will narrow down to the sub-component “payments for ecosystem services” (PES). PES is indeed the only “innovative financial mechanism” and “incentive measure” explicitly mentioned in the report of COP10 in Nagoya and for that reason deserves specific attention to inform policies. Moreover, PES occupy a particular position in the realm of MBIs, which is demonstrated, inter alia, by the tiny overlap between both streams of scientific literature (Lapeyre and Pirard, forthcoming).
In brief, this article revisits the place of maket-based instruments (MBIs) and Payements for ecosystem services (PES) within the framework of the strategy for resource mobilisation, currently negociated at the Convention on Biological Diversity (CBD). Our analysis presents the different prospects for the creation of comparable frameworks for analysis, in order to optimize the research on this matter.