1 July 2014, IISD news - The International Tropical Timber Organization (ITTO) released  the 23rd edition of its quarterly update on tropical forests. This special issue  focuses on recognizing the value of forest ecosystem services and covers the  proceedings and conclusions from the International Forum on Payments for  Environmental Services (PES) of Tropical Forests.

The newsletter follows the format of the Forum with articles on the role of  PES in sustainable forest management (SFM), innovative financing mechanisms,  benefits for local communities, and governance and institutional arrangements.  Overall, the bulletin emphasizes the important ecosystem services provided by  forests, but notes that many of those benefiting from such services do not pay  for them.

As such, the Forum suggests that the unique needs and priorities of forest  users and owners should be considered in all PES processes and that safeguards  should be designed in order to protect the rights of indigenous peoples and  local communities. The Forum further calls for increased efforts to monitor the  effectiveness of PES mechanisms, assess and value forest ecosystem services, and  share experiences in the development and implementation of forest PES  mechanisms.

Additionally, according to the newsletter, the forum recognizes the need to  raise awareness on the value of forests, and the importance of paying for such  services, all of which should be accompanied by investments in an improved  policy, governance and business environment for PES.

The forum was convened jointly with the Food and Agriculture Organization of  the UN (FAO) and the Government of Costa Rica.

Source: http://forests-l.iisd.org/news/itto-tropical-forests-update-focuses-on-payments-for-environmental-services/