VIENTIANE, Aug. 21 (Xinhua) -- The Lao government, in partnership with development partners, has launched a feasibility study to develop a national Payment for Forest Environmental Services (PfES) system, a sustainable, long-term financing mechanism for the country's forest ecosystems.

The initiative aims to address the decline in forestry sector revenue following the suspension of logging in natural forests since 2013, as well as the ongoing financial challenges of forest protection, which has traditionally relied on international support, Lao News Agency reported on Thursday.

The proposed PfES system offers a transformative approach by requiring key economic sectors that benefit from healthy forests, such as hydropower, ecotourism, and the water and beverage industries, to contribute financially to their conservation and sustainable management.

The feasibility study will provide policy options and a roadmap for piloting and eventually scaling the PfES system nationwide. ■