This book provides a one-stop source of information on implementing Payment for Environmental Services(PES). PES addresses the problem of environmental degradation by compensating landowners/managers for the ecosystem services that their land provides through enabling the factoring of environmental services in the household production functions and decision-making. The book provides methods for economic valuation of environmental services, policies and institutions necessary to implement PES. Themes in this book are based on environmental services of watershed management, biodiversity conservation, Carbon sequestration and cross cutting issues of policy and institutional frameworks necessary for implementing PES schemes. Given that the beneficiaries of the ecosystem services are often located some distance away from where the ecosystems services are generated, the policy and institutional arrangement for PES is necessary. Institutions and legal frameworks are important in facilitating packaging of the environmental services and linking suppliers to buyers. The book is a must-read for Environmental managers, Environmental Advocacy Groups and scholars of Environmental Economics.