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This paper uses 13 case studies to examine whether payments for environmental services (PES) can be used effectively for REDD. The report argues that PES can play an important role in REDD but that their effectiveness will be contingent upon economic, institutional and informational pre-conditions. The report suggests that despite concerns, evidence reveals that PES do not have negative effects on livelihoods and that if properly targeted they can have positive benefits, if marginal, for the poor. The report advances various recommendations related to forest governance, economic costs of implementing REDD and MRV.