REDD+ and markets: any lessons to be learned from voluntary carbon markets?

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Summary

The idea of linking sustainable forest management to the market economy for addressing climate change was first introduced in the 1990s. It promised to raise substantial additional finance for protecting critical forests and to change the way forests are managed and linked to the wider economy. The Voluntary Carbon Market (VCM) has been part of the international forestry dialogue for well over a decade now. What lessons can we learn from it that could be relevant for REDD+?