PAYMENT FOR ENVIRONMENTAL SERVICES ASSOCIATED WITH WATER IN LATIN AMERICA

Abstract

This review article analyses the concept and implementation of Payment for Environmental Services (PES), with a special focus on its role as an economic mechanism for water source conservation and sustainable water management. The theoretical evolution of PES and its main approaches are reviewed, as well as success stories in countries such as Costa Rica, Mexico, Brazil and the USA. Through the analysis of previous studies and international experiences, the benefits of PES are highlighted, especially in the protection of watersheds, the improvement of water quality and the maintenance of critical ecosystem services. Its potential application in the Orinoquía region of Colombia, a key area due to its wealth of biodiversity and water resources, is explored, highlighting its relevance for the protection of water sources, the regulation of the hydrological cycle and sustainable rural development. In addition, the challenges facing the implementation of PES in this region are identified, such as equity in the distribution of benefits and the need for long-term sustainable financing. Finally, the article discusses the future prospects of PSA in the Orinoquía, considering its role in climate change mitigation and the cooperation between governments, local communities and international organizations to ensure its success.