This study analyses the historical evolution and status of three natural resource management frameworks – REDD+, payment for ecosystem services (PES), and integrated water resources management (IWRM) – in Nepal. This analysis of the documented development of REDD+ and PES practices related to IWRM seeks to improve understanding of Nepal’s specific country context, as well as the opportunities, challenges, and barriers towards strengthening linkages and improving synergies between these natural resource management frameworks.