Abstract
The concept of triple-bottom in microfinance is a recent development. Moreover, the introduction of direct conservation schemes like payments for ecosystem services has been central to the environmental governance debate. The purpose of this paper is to provide a review of green microfinance with particular emphasis on payments for ecosystem services. To this end, this paper reviews an article on microfinance plus and ecosystem services in Nicaragua in which the authors tried to assess the impact of a green microfinance program called Proyecto CAMBio. It is the first large-scale application of green microfinance and covered five Latin American countries. It aimed at combining credits, technical assistance, and payments for ecosystem services. This paper suggests the critical adoption of green microfinance as its effectiveness is dubious.
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