REDD strategy is discussed in the Framework Convention on Climate Change which offers incentives (compensation) for developing countries to reduce emissions of gases that cause the greenhouse effect from forests and invest in sustainable development and low carbon practices for land use.
The funding will come from developed countries, within the logic of different responsibilities that guide the Climate Convention.Eventhough it is not yet part of the current agreement (Kyoto Protocol), REDD should enter the next, expected to enter into force on 2020. And be the first mitigation mechanism (reduction) of emissions suggested by developing countries to join the Convention.
The acronym for Reducing Emissions from Deforestation and Forest Degradation (REDD), goes beyond avoided deforestation and forest recovery. The signal + includes "the role of conservation, sustainable management and increasing carbon stocks in forests ".
Source: Ministry of Environment
Video of the Global Canopy Programme (GCP), on REDD:
Video of the UN REDD: