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This article analyzes the current status of Payments for Environmental Services (PES) programs in Brazil and discusses its future against the Law Project 792/2007 and its amendments in the Congress, and the new Forest Code (law 12.651/2012). This law, with amendments introduced by Law 12.727/2012, introduces several economic instruments by the “Program for Support and Incentive to Environmental Preservation and Restoration” ("Programa de Apoio e Incentivo à Preservação e Recuperação do Meio Ambiente") and the establishment of a market for environmental services, the “Mercado Brasileiro de Serviços Ambientais” (MBSA). The conclusion is that there is no intersection between economic instruments created by this new Law and that Law Project, where the PSA would be operated from the creation of a national fund, in comparison with the programs created by market forces or state and local laws. These initiatives complement each other to revert the depletion framework of Brazilian ecosystem services

O futuro dos Pagamentos por Serviços Ambientais no Brasil a partir do Novo Código Florestal