Ana Karine Cardoso Peixoto
The intense exploitation of natural resources, caused mainly by the industrialization process and increasing population growth, is leading to significant losses of ecosystem services and biodiversity. Extreme events occurring more frequently and the worsening of the climate crisis have severely impacted not only ecosystems, but the economy and society. Therefore, various sectors of the economy are beginning to understand that the availability and quality of natural resources and the guarantee of the provision of ecosystem services are essential for maintaining the production process and that financial investments are necessary to ensure that these ecosystem services continue to be provided. This work discusses the payment for environmental services (PSA) mechanism as an opportunity to capture investments from different sources and transfer them to ecosystem service providers, bringing the private sector as a potential financier in contrast to the reality of the mechanism, which has a strong dependence on financing of public power. Through an extensive bibliographic and documentary review, an overview of PSA in the world and in Brazil is presented and the challenges for expanding sources of financing in the country are discussed, which include the regulation of the National Policy for Payment for Environmental Services (PNPSA), legal security for transactions and ensuring that political unforeseen circumstances will not affect projects. Secondly, a comparative analysis is made between the PSA implemented in Espírito Santo and São Paulo. The PSA in Espírito Santo has a robust technical framework, in addition to a structured network of partners, which contributes significantly to the operation strategy and the continuity of the PSA, however, the almost R$100 million invested until 2023 was financed by the Government of Espírito Santo. State. In turn, in the State of São Paulo, the resources available for financing the PSA are raised from multiple sources, with less dependence on public authorities and decentralized management. Using the example of the state of São Paulo, the main challenges for expanding financing in Espírito Santo from sources other than the Government were discussed, ensuring the long-term sustainability of the mechanism.