Payments for environmental services as neoliberal market-based forest conservation in Vietnam: Panacea or problem?

► Vietnam has begun using payments for environmental services (PES) for forest conservation. ► These market-based instruments do not follow expected “neoliberalization of nature” approaches. ► PES models show uneven results in promoting privatization and capitalization of commodities. ► A strong state role in forest management can dominate even in market-oriented PES approaches. ► PES is unlikely to be successful in Vietnam in tackling underlying causes for forest degradation.