Since 2008, USD 4 billion has been pledged to five multilateral climate funds that support efforts to reduce emissions from deforestation and degradation plus conservation (REDD+). Despite strong interest in the potential to harness market based mechanisms to support REDD+
programmes, the future of such mechanisms remains highly uncertain. The last year has seen few approvals for REDD+, although there has been some progress in disbursement. While since 2008, USD 2 billion has been approved for REDD+ activities just USD 17 million has been approved in the last 12 months. Norway is the largest contributor of REDD+ finance, followed by the UK, Germany and the United States. There have been some significant changes in the REDD+ finance architecture and increasing efforts to support developing countries’ move beyond readiness and capacity building to demonstration programmes and emission reductions with payments based on verified results.