The groundbreaking " Silver Bullet or Fools Gold " (2002) reviewed the state of markets for environmental services worldwide and their likely impacts on the poor. Here we present a follow up review on payments for watershed services initiatives in developing countries.

A growing international debate calls for downstream beneficiaries of wise upstream land and water use to dig into their pockets and pay. IIED stimulated the debate several years ago with a ground-breaking review of the scene. Now we have gone further - with this in-depth international review and analysis of all accessible ongoing initiatives and advanced proposals for market mechanisms for watershed services.