REDD is the acronym widely used to refer to the UN program for “Reducing Emissions from Deforestation and Forest Degradation” in developing countries. REDD program specifics are still under discussion, but an agreement may be finalised in 2010. It is anticipated that the REDD program will begin in 2013. During the COP-15 conference in Copenhagen, a number of countries committed US $3.5 billion to the REDD program over the next three years.
REDD is a program aimed at reducing emissions from deforestation and forest degradation and incentivising re-forestation, which can boost carbon sinks and create financial value for the carbon stored in standing forests and soil. Direct financial assistance (fund-based) from developed countries or indirect financing through REDD credits (market-based) will be offered for developing countries to monitor forest loss, build institutions for avoiding deforestation and help finance reforestation projects. Further co-benefits such as increasing biodiversity, conservation and poverty alleviation are also intended. Participation is program-specific.
Website: www.un-redd.org