Mobilizing Finance for REDD+ After Paris

In December 2015, more than 190 countries endorsed the Paris Agreement, an international framework to tackle climate change that aims to hold global temperatures well below 2 degrees C above pre-industrial levels. This paper evaluates options for the European Union (EU) and its Member States to support the implementation of the Paris Agreement through financing developing country efforts to reduce emissions from deforestation (REDD+). A diverse range of options exists for the EU and its Member States to generate funds to provide finance for REDD+ mitigation action. The paper evaluates options to mobilize long-term and predictable finance for REDD+ through additional international mitigation commitments, international cooperation, and EU-level policy instruments. REDD+ offers a unique opportunity for such additional mitigation action, considering that the negotiations defining REDD+ are comparatively advanced and REDD+ is already supported by implementation partnerships between developed countries and tropical forest countries.