In 2007 at COP 13 in Bali, the Prime Minister of Norway made a big commitment to support the development of REDD+ (Reducing Emissions from Deforestation and Forest Degradation). Since then they've pledged $1B each to Indonesia and Brazil through pay-for-performance agreements where funds are provided for demonstrated emissions reductions. NICFI has also provided support for developing the REDD mechanism through multilateral organizations (UNEP and UNDP, World Bank) and other countries including Guyana, Tanzania, Ethiopia, Mexico, the DRC, and more.
The following video provides a basic overview of the REDD mechanism. It's not without controversy, but an effective mechanism for protecting the world's great forests will have to be part of the climate solution. Emissions from deforestation and forest degradation make up about 15% of global emissions; on the order of those from the entire transportation sector. Refining and improving the REDD mechanism could be the best way to do that.