2.1 Types of PES The twin objectives of PES can be enumerated as: 1. Protecting and preserving natural ecosystems; and 2. Providing livelihood opportunities for local communities. The process of structuring, recognition and nature of incentives are some of the key elements of PES. Typically, they are structured as either: 1. Output-based: Payments are computed by measuring actual ecosystem services provided, for example, tonnes of carbon sequestered or an increase in the agreed upon measure for biodiversity; or 2. Input-based: Payments are linked to implementation of agreed upon practices for land, or/and resource management, for example, farmers reducing the amount of chemical pesticides used per hectare. Additional attributes to qualify a PES are: type of ecosystem(forests, wetlands, mangroves, etc.); geographical scale(local, regional or global); mode of compensation(direct or indirect); and the fund provider (public or private). Water related services(pollution control, watershed protection and development, etc.) form a large proportion of active PES schemes via both private and public funding. Carbon sequestration and storage, in the form of emission reduction targets, is another prevalent scheme for payments. In fact, due to the implosion of companies signing on to net-zero pledges, the voluntary carbon credit market has, till recently, been growing at a record pace. By 2030, the market is expected to reach between 10 billion US dollars and 40 billion US dollars from a base of 500 million US dollars in 2020(BCG, 2023). Additionally, PES exists for non-domestic biodiversity protection and forest protection. 2.2 What is Eco-DRR? How does it fit in with PES? Once the balance between human activity and nature is disrupted, disasters result. According to UNEP,“The degradation of ecosystems – such as forests, wetlands, drylands, and coastal and marine systems – is a major driver of disaster risk and a key component of communities' vulnerability to disasters”(UNEP 2023). The United Nations Office for Disaster Risk Reduction published a comprehensive report on the practices within NbS that deliver DRR and climate change adaptation outcomes(UNDRR, 2020). Eco-DRR, in its essence, should leverage ecosystem services to enhance safety(reduce impact of flood, cyclone, landslides, etc.) and security 5 by preventing and reducing the impact of disasters, at both local and habitat scale. The Partnership for Environment and Disaster Risk Reduction, a clearinghouse for knowledge, training, advocacy and practice on Eco-DRR, defines it as,“the sustainable management, conservation and restoration of ecosystems to reduce disaster risk, with the aim to achieve sustainable and resilient development”(PEDRR 2020). 2.2.1 Reducing Disaster Risk with PES If applied strategically, NbS can help address all aspects of disaster risk, such as vulnerability, exposure to hazards, while also improving people's lives and preserving ecosystems, the common goal of PES. Moreover, these approaches can help countries meet their global and national commitments towards combating climate change and sustainable development, which are lagging due to the Covid-19 pandemic. Many studies have found that NbS offer a high return on investment, with a range of benefits for communities, households, and individuals to achieve targets related to safety, security and well-being. These have earned NbS the label of'no-regret' or'win-win' solutions. Developing such solutions will require local generative­dialogues between'four types' 6 of partners. 5 E.g. Continuum of water, food, nutrition, and livelihood security bringing climate change adaptation benefits. 6 Grid-group cultural theory, devised by anthropologist Mary Douglas. 5 Payments for Ecosystem Services