DevelopmentandPotentialofthe

Next, an overview of the policy and market frameworks for international climate change legislation - both for the voluntary and compliance markets - is provided, while also paying special attention to REDD's role.
With this comprehensive framework in place, the proceeding section reviews the current REDD projects being developed to better understand: who is developing the projects, the projects' current locations, certification standards chosen, and the best practices employed that could be incorporated into a eventual compliance market which accepts international REDD projects.
The final section of this SRP highlights the potential of international REDD markets including financial flows, future project locations and the resulting benefits to local communities and biodiversity.
Key Words: Reduced Emissions from Deforestation and Degradation (REDD), additionality, leakage, permanence, voluntary and compliance carbon markets.
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Introduction
What is the potential of international REDD markets if the United States of America adopts a national or integrated regional cap-and-trade system which allows for a REDD mechanism Such a topic is of the utmost importance because tropical forests are being quickly deforested while REDD simultaneously offers the best potential conservation finance mechanism to date. With this research question in mind, the following SRP utilizes a methodology of primary, interview-based research, unstructured conversations, and an extensive, secondary literature review. While not an all-encompassing list, consultative discussions have taken place with the following individuals and it is important to note the following SRP is only a reflection of the author's opinion and is not to be attributed to those listed below:
Analysts Justin Felt, Point Carbon
Thomas Marcello, Bloomberg's New Energy Finance
Financial Services Adam Raphaely, TFS Green David Nussbaum, Evolution Markets Radha Kuppalli, New Forests Jarett Emert, CantorCO2e Jane Lloyd, Markit Environmental Registry Government / NGOs Benoit Bosquet, World Bank Eric Carlson, Carbonfund.org Project Auditors Jeff Hayward, Rainforest Alliance Scientists / Project Developers David Shoch, Terra Carbon LLC Jan Fehse, EcoSecurities Sean Carney, Finite Carbon Zoe Kant, The Nature Conservancy

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