Spatial prioritization to achieve the triple bottom line in Payment for ecosystem services design

•We account for biodiversity, social equity, water and carbon services, and budget in PES design.•We illustrate our approach by modelling a national PES scheme in Colombia.•Strong trade-offs exist between social equity with biodiversity.•Weak trade-offs exist between carbon and biodiversity, suggesting synergies for both objectives.•We found optimal solutions for ES and poverty alleviation in a mega diverse country.