REDD+ stands for Reducing Emissions from Deforestation and forest Degradation in developing countries. It was developed by the parties to the United Nations Framework Convention on Climate Change (UNFCCC).
Forests represent one of the largest carbon stores globally. Deforestation and forest degradation are responsible for about 11% of global carbon emissions.
REDD+ projects provide incentives for developing countries to reduce their emissions from forest and rainforest areas and invest in low-carbon pathways for sustainable development. Accordingly, developing countries receive payments based on the results of their actions. In this way, REDD+ establishes a financial value for the carbon stored in forests. REDD+ goes beyond protection against deforestation and forest degradation to include the role of conservation and biodiversity, as well as support to local communities to foster sustainable forest management and thus increase forest carbon stocks.
The carbon market is used to support these efforts and to bring direct benefits to communities. REDD+ Voluntary Emissions Reductions, (VERs), are issued on an annual basis by third party verifiers only after the forest has been successfully protected and sustainable economic alternatives have been created for the community, such as job creation initiatives and agricultural intensification programs.
Planetly’s offset project portfolio also features several high-quality REDD+ projects - feel free to reach out to us for more details.