In the European South mountain areas, uncontrolled forest regrowth is heightening wildfire risks, exacerbated by rural depopulation and land abandonment. Italy’s in particular is a major wood importer, contributing to deforestation in the Global South, there is growing interest in valuing the non-use of forests through payment for ecosystem services (PES). This article critically examines the commodification of ecosystem services, such as carbon credits, which often prioritize global economic interests over local ecological and social needs. Italy’s mountain regions, where forest cover has expanded by 20% since 1990 due to agricultural abandonment, face a paradoxical socio-ecological crisis. This “green transition” masks challenges like biodiversity homogenization, increased wildfire vulnerability, and the collapse of traditional agrosilvopastoral systems. Institutional changes, including the dissolution of Collective Properties and reliance on Common Agricultural Policy (CAP) subsidies, have further worsened land mismanagement. This research, conducted through a one-year action-research project with the Aterno Valley Model Forest Association in Abruzzo, employs qualitative methods—participant observation, walking interviews, and focus groups—to explore how ecosystem services can aid in the recovery of abandoned lands and sustainable forest use. A global justice and decolonial framework ensures local perspectives are central. The study investigates collaborative governance models involving public, private, and communal actors, alongside agroecological practices that integrate sustainable forest management with extensive grazing to prevent scrub encroachment. Key findings highlight two barriers: (1) limited municipal capacity for investment and (2) challenges in creating sustainable grazing markets without heavy reliance on subsidies. Intermediary entities, such as the Model Forest, play a crucial role in fostering local experimentation and collaboration, though their impact often remains limited to advocacy. The study proposes structured supra-local Public-Commons Partnerships to support restoration in sparsely populated mountain areas, emphasizing the need for intermediary organizations and locally rooted partnerships. By advocating for governance models that prioritize local ecological knowledge and socio-economic equity, this research contributes to broader debates on global justice and decoloniality in mountain regions.