Biodiversity loss is one of the most pressing global environmental problems. It profoundly impacts the stability of ecosystems and the associated services essential for humankind’s survival. In order to protect and restore biodiversity, innovative financing mechanisms are needed that not only pursue ecological goals but also create economic incentives. Payments for environmental services (PES) are a promising instrument to reward biodiversity conservation financially. This chapter examines payments for biodiversity services in different countries and analyzes their role in financing biodiversity projects. It examines the mechanisms and the challenges that influence the effectiveness of these systems. Particular attention is paid to analyzing how PES significantly improves access to resources for local communities while promoting ecological conservation, offering hope for a more sustainable future. A comparative approach identifies specific success factors and obstacles to implementing PES in countries with high biodiversity and developed economies. This allows us to position PES as an ambivalent instrument for safeguarding biodiversity and promoting sustainable development.