There has been increasing interest in the use of market-based approaches to add value for forestland and to
assist with the conservation of natural resources. While markets for ecosystem services show potential for
increasing forestland value, there is concern that the lack of an integrated program will simply add to the
complexity of these services without generating significant public benefits. If not designed properly, these
fragmented programs can result in the restoration of many small sites that lack ecological integrity and are
unlikely to provide the benefits from protecting larger and more contiguous areas. An integrated approach
that combines or bundles services and provides financial incentives for forest landowners may be more effective
to achieving broad conservation goals. including enhancing fish and wildlife habitat. improving watershed
health. sequestering carbon to mitigate climate change. and providing other ecosystem services at an
ecologically relevant scale. We outline some of the policy and regulatory frameworks for some of the emerging
markets for ecosystem services in the United States. and discuss the role that different regulatory agencies
play for each of these services. We then assess the potential benefits for bundling different ecosystem services
such as water quality. wetlands. species conservation. and carbon and describe an integrated accounting protocol
for combining these services.