Te UN collaborative programme on Reducing Emissions from Deforestation and Forest Degradation in Develop- ing Countries (UN-REDD) is another PES-type mechanism which focuses on terrestrial carbon sequestration.

Marine and coastal conservation communities are currently trying to extend carbon markets to coastal ecosystems which

store blue carbon. Methodologies for generating carbon credits from these habitats are being developed, the most ad- vanced of which are for mangrove forests, estimated to store up to 50 times as much carbon in trees and soil as some ter- restrial forests (Nellemann et al. 2009).

VITAL GRAPHICS ON PAYMENT FOR ECOSYSTEM SERVICES 41