The Reducing Emissions from Deforestation and Forest Degradation (REDD) is a proposed UN scheme designed to provide developing countries with financial incentives to reduce the level of greenhouse gas emissions produced through deforestation and forest degradation.
Around 17 per cent of annual greenhouse gas emissions are thought to result from deforestation and forest degradation, and it is hoped that allowing countries to generate revenue by selling carbon credits linked to forestry protection schemes will serve to significantly reduce deforestation in tropical countries.
The mechanism was not included in the land use and land use change and forestry sections of the Kyoto Protocol's Clean Development Mechanism, and was the subject of intense debate at the Copenhagen Summit in December 2010.
Detailed commitments to act on the REDD proposals were not included in the Copenhagen Accord that resulted from the summit, however the scheme is widely regarded as critical to efforts to tackle climate change and is expected to feature in any treaty that replaces the Kyoto Protocol.
Chancellor Rishi Sunak is reportedly preparing series of new environmental tax moves in next month's Budget, as Westminster and Brussels draw red lines that are set to spark a major stand-off over green rules
'We will be prepared to part company': Could BP's exit from three major oil and gas trade bodies set a new industry standard?
Decision to quit three US trade bodies stems from differences over carbon pricing policies and methane regulation, as oil giant looks to build on net zero plans
Visual imagery is increasingly influential in shaping consumer perceptions, the research from Getty Images shows