The role of REDD in stabilising greenhouse gas concentrations : lessons from economic models

REDD can deliver additional near-term • emissions reductions that are critical for maintaining global options for stabilising GHG concentrations. Estimated costs of REDD vary with the • modelling approach used. However, all models indicate that cost savings from REDD could buy deeper and faster emissions cuts than would be achieved with the same global expenditure but without REDD. Cost-e ective and large-scale REDD is • available for a limited time only, thus adding value to protecting tropical forests now. The risk of REDD supply ‘ ooding’ the • carbon market can be contained by policy designs ranging from strict and long-term targets with ‘banking’ to modest limits on the use of REDD and other types of credits. The role of REDD in stabilising greenhouse gas concentrations Lessons from economic models