Forests play an important role in stabilizing the global climate and greenhouse gas emissions caused by human activities such as deforestation and industrial activities. Recent global conventions such as the Paris Agreement and initiatives such as Reducing Emissions from Deforestation and Forest Degradation (REDD+) seek to address the problem of climate change. REDD+ was originally started to address the problem of climate change by reducing deforestation and forest degradation at the national and sub-national level in developing countries (Myers et al., 2018). What distinguishes REDD+ from traditional development assistance grants and soft loans is the resultsbased payment. REDD+ differs in scale from traditional “payments for ecosystem services” (PES) schemes as it seeks to monetize services at the global level. REDD+ mechanisms provide incentives for climate change mitigation and reducing emissions.
