Engaging the Private Sector in REDD+: Challenges and opportunities
REDD+ is a global mechanism for reducing emissions from deforestation and forest degradation, and for the conservation and sustainable management of forests and the enhancement of forest carbon stocks in developing countries. REDD+ enables the transfer of funds from developed to developing countries that are willing and able to undertake REDD+ actions. Over the course of international climate change negotiations on REDD+, private sector engagement has repeatedly been identified as a key component in moving forward. Much of this discussion has revolved around financing, which remains a pressing challenge for REDD+, and the appropriate means and scope of private sector involvement. Although little has been explicitly stated in the Durban agreements, private sector engagement appears to be particularly needed as countries transition from Phase I (readiness) and Phase II (demonstration) to Phase III (resultsbased actions) in implementing REDD+, where payments and other forms of compensation are offered for verifiable emission reductions. These payments will require significant sums of additional funding.