Institutional readiness for payments for ecosystem services: Stakeholder perspectives from Sri Lanka.

Payments for Ecosystem Services (PES) is gaining global traction as a market-based instrument for sustainable resource management, yet remains relatively novel in many developing countries. This study explores the perspectives of stakeholder groups, including buyers, sellers, and intermediaries, regarding PES in Sri Lanka, using a semi-structured questionnaire survey. Findings reveal varying levels of willingness to engage, with intermediaries showing more optimism, while buyers and sellers were more cautious and often skeptical about the feasibility. The study emphasizes the need for early knowledge dissemination to prevent misconceptions and foster stakeholder confidence. Collaborative engagement among all stakeholder groups is recommended to enhance implementation success and promote the long-term sustainability of PES schemes. Sri Lanka thus provides a relevant context for examining how stakeholder perceptions shape early implementation readiness for PES in settings where institutional arrangements are still evolving.