The government has decided to adopt a hybrid approach that will aim to attract fund-based credits in the short-term, while accessing the compliance market in due course, when international protocols have been agreed and at the same time allow participation in the voluntary market. In addition it was determined that a total of nine components need to be undertaken for a country to be ready for REDD+. Based on earlier discussions with the GoL and other development partners, it was agreed that at this stage the project would support four components of the overall national REDD+ framework. These would include support to the institutional set up to help establish the national REDD+ office and the Technical Working Groups; regulatory set up which will help evolve the National REDD+ Strategy; safeguards by supporting the Strategic Environmental and Social Assessment for REDD+ investments; and MRV/REL, and carbon registry depending on the assessment of the existing support by other bilateral and multi lateral donors.
