In the article titled “Nature works for us for free. But for how much longer?”, published in the newspaper Ta Nea, Dimitra Syrou, Nature Policy Associate at The Green Tank, explains that nature provides critical services for free – such as CO₂ absorption and flood protection – upon which our economy and society depend. Nevertheless, these Ecosystem Services are not valued and are thus assumed to be given and inexhaustible, resulting in their uninterrupted provision being undermined by human activities.
As pressure on ecosystems increases, the need for new financing tools – such as Payments for Ecosystem Services (PES) – becomes urgent. In Greece, some initial steps are already being taken (e.g., the Interreg EURO-MED ARTEMIS project for Posidonia meadows).
Protecting nature must remain a top priority, Dimitra Syrou notes, and leveraging tools like PES is an option worth exploring.
The article was originally published in Greek at the newspaper TA NEA on 28 July 2025.
Read the English version of the article below.
Nature works for us for free. But for how much longer?
Nature constantly provides us with goods and services – known as Ecosystem Services – such as climate regulation, carbon absorption, and flood protection. While we pay for tangible goods like food and timber, most of these services are offered for free, even though our economy and society depend on them. For example, the World Economic Forum estimates that over 50% of global GDP is dependent on ecosystem services.
Despite their critical importance, ecosystem services have not been integrated into the economic system. This is mainly due to four reasons: first, nature seemed to provide its services abundantly and without limits. Second, valuing these services economically is technically complex. Third, they are public and indivisible goods – meaning no one can be excluded from accessing them, as is the case with oxygen. Fourth, the idea of paying for nature has not yet been embedded in our economic and social worldview.
However, times have changed. Human activities are degrading the natural environment, reducing the capacity of ecosystems to deliver these services, and the narrative of “limitless nature” is collapsing. Floods, wildfires, biodiversity loss, and other phenomena show how the destruction of nature and the loss of its services come with enormous environmental, economic, and social costs.
Although international agreements and targets have been established for the conservation of nature and its services, a significant financing gap remains. The Convention on Biological Diversity estimates an annual shortfall of $598–824 billion. In Europe alone, €65 billion per year is needed for restoration actions, while existing funds cover less than half that amount. That’s why the conversation around Payments for Ecosystem Services (PES) is more relevant than ever.
While the idea of PES has been around since the 1970s, it is now becoming more feasible, as tools exist to help quantify the value of nature in economic terms – making it possible to incorporate these services into market mechanisms. The theoretical basis of PES is simple: to ensure the continued provision of services that society and the economy depend on, we must pay for them. However, putting this into practice is difficult due to institutional, legal, ethical, and social challenges.
Gradually, PES schemes are being implemented globally – through fees, investments in conservation, or restoration of nature – and some first steps have also been taken in Greece (e.g., entrance fees in protected areas and planning for forest-based carbon markets). Investment schemes are also being explored for marine ecosystems, such as Posidonia meadows, which serve as biodiversity hotspots and natural carbon sinks (e.g., the Interreg EURO-MED ARTEMIS project). Still, overall, PES implementation remains at an early stage.
PES are not a panacea, nor a solution to every environmental challenge. Their application requires careful consideration of legal, institutional, and ethical issues. Nonetheless, they deserve our attention – as they remind us of the invaluable role of nature and the privilege of enjoying its services for free.
