COST, Payments for Ecosystem Services (Forests for Water), http://www.cost.eu/COST_Actions/ca/CA15206. New economic instruments, in combination with spatial targeting, need to be developed to ensure cost-effective solutions – including tree planting for water benefits – are realised. Payments for Ecosystem Services (PES) are flexible, incentive-based mechanisms that could play an important role in promoting land use change to deliver water quality targets. The PESFOR-W COST Action will consolidate learning from existing woodlands for water PES schemes in Europe and help standardize approaches to evaluating the environmental effectiveness and cost-effectiveness of woodland measures. It will also create a European network through which PES schemes can be facilitated, extended and improved, for example by incorporating other ecosystem services linking with aims of the wider forests-carbon policy nexus.