A major analysis led by the University of Cambridge has found that many REDD+ projects achieved meaningful reductions in forest loss - offering real environmental benefits.
This is despite the study confirming that almost eleven times more carbon credits were issued from the REDD+ (Reduced Emissions from Deforestation and Degradation) voluntary carbon market than was justified.
Tropical forests are an invaluable global asset under increasing threat, and carbon markets have the potential to contribute substantial funds to their protection.
The researchers say future projects must ensure the claimed impacts reflect real reductions in deforestation: the REDD+ carbon credit market should not be abandoned, but far fewer credits should be issued, at a higher price.
Over the last two decades the voluntary carbon market - through which people can buy carbon credits to offset their carbon emissions - has boomed and almost bust. REDD+ schemes use funds from the sale of carbon credits to protect existing forests, but their valuation methods have come under heavy scrutiny leading to a crisis of confidence in the market.
