The critical role of REDD+ in contributing to the global objective of climate change mitigation is increasingly recognised. REDD+ offers significant potential for rapid and low-cost emission reductions, with the added co-benefits of biodiversity, water and soil conservation, as well as poverty reduction. To date, more than four billion dollars in additional funding have been pledged by developed countries to support REDD+ activities in developing countries, which have in turn announced ambitious targets for emission reductions in the forestry sector. The ongoing international negotiations have included options for establishment of both a market mechanism, and a fund mechanism, or a combination of both to channel funds into REDD+ activities.