REDD+ in Vietnam: Integrating national and subnational approaches
Despite the significant progress made to date on reducing emissionsfrom deforestation and degradation (REDD+) it is still unclear how a future REDD+ mechanism may be implemented in practice, and in particular how to design REDD+to deliver ecosystem conservation and restoration in an economically efficient and socially sustainable way. “Nested” approaches to REDD+ offer countries an opportunity to account for overall emission reductions and removals (ERRs) from REDD+ activities at the national level as well as at the level of nested subnational programs and/or project swithin the national system. Although nesting can also add considerable complexity in carbon accounting, risk‐sharing, and institutional arrangements, the advantages to nested approaches are seen to outweigh this increased complexity. This is true especially as the UNFCCC discussions focus increasingly on accounting and performance at national levels and away from project‐level activities that have dominated voluntary carbon markets to date, and yet countries will benefit greatly by building on their project‐level capacity. Applying the latest technical understanding on how to integrate national and subnational approaches to REDD+, this paper provides background information and preliminary advice to the Government of Vietnam and stakeholders on applying a nested REDD+ approach in Vietnam.