@article {27984, title = {Decision criteria of European and Latin American market actors for tropical forestry projects providing environmental services}, journal = {Ecological EconomicsEcological Economics}, volume = {58}, year = {2006}, pages = {17-36}, abstract = {Converting the environmental services of tropical forests from public goods to tradable services is a promising approach
to sustaining tropical forests{\textquoteright} ecosystem functions and services. We hypothesize that the development of markets for these
environmental services will substantially depend on compliance with requirements of key market actors representing supply
and demand sides. This paper analyzes market actors{\textquoteright} decision criteria related to engagement in tropical forestry projects
that provide environmental services. In a questionnaire survey, 45 experts from Latin America and Europe representing key
market actor groups, i.e., certifiers, consulting companies, financial institutions, governmental organizations, industrial
companies and non-governmental organizations (NGOs), were asked to name and weight criteria that tropical forestry
projects should meet in order to attract their institution{\textquoteright}s engagement. Many of these 45 institutions are already involved in
several market activities related to tropical forestry projects and environmental services, including asset management,
certification, consultancy, credit business, investments, project ownership and trade/brokerage. The collected criteria cover a
variety of topics that clearly go beyond frequently applied sustainability dimensions in forestry related multi-criteria based
decision making, i.e., social, environmental and economic dimensions. For example, relatively many criteria involve topics
such as project management, risk management or marketing. While differences in criteria weighting among market actor
groups are not significant, we found a significant interaction between criteria weights and the provenance of participants,
indicating that Latin American and European market actors nominate and weight single decision criteria differently. The
five criteria with highest mean weights in the European sample are social benefits, legal compliance, sustainability,
environmental benefits and stakeholder participation. The Latin American market actors weighted highest expertise and
capacity building, financial resources, political aspects, information management and markets. Generally, Latin American
market actors emphasize criteria related to markets and information/knowledge management, whereas European participants
tend to assign importance to social and environmental benefits and sustainability. The survey provides preliminary insights
into bottom-up defined decision criteria relevant for key-actors in the market of tropical forestry-based environmental services, and compiles information for further multi-criteria based assessments of tropical forestry projects providing
environmental services.}, author = {Sell, J. and Koellner, T. and Weber, O. and Pedroni, L. and Scholz, R. W.} }