Reference Levels and Payments for REDD+: Lessons from the recent Guyana-Norway Agreement
Report: Reference Levels and Payment for REDD+
This report discusses the various definitions proposed for REDD+ RLs and RELs and asserts that a RL to track REDD+ progress is not necessarily the same as a reward or crediting line and that the two concepts can and should be separated. The analysis assesses the pros and cons of several proposals of RLs/RELs to track REDD+ progress, as well as the pros and cons of several schemes to reward REDD+ countries. The authors refer to the recent Guyana–Norway agreement to discuss how these REDD+ reward schemes could be implemented on the ground. The paper concludes with lessons regarding the establishment of RLs and the future of REDD+ financing.