Objectives and activities from the project entitled “Payment for Ecosystem Services in Marginal Drylands (PESMED)” (project code: 73717) have been carried over and modified to fit into this project with effect from October 2012. The Economics of Land Degradation (ELD) is an initiative for a global study on the economic benefits of land and land based ecosystems. The initiative highlights the value of sustainable land management and provides a global approach for analysis of the economics of land degradation. It aims to make economics of land degradation an integral part of policy strategies and decision making by increasing the political and public awareness of the costs and benefits of land and land-based ecosystems. The main purpose of the study is to increase political and public awareness of the costs and benefits of decisions impacting land and land-based ecosystems by establishing a global standard for analysis of the economics of land management. There is widespread consensus that the attention given by policy makers to the issue, its UN convention (UNCCD) and the focus of the relevant research has been lagging behind for years, especially when compared to the other Rio Conventions.