Ultimately, the current focus on carbon market finance for REDD is neither feasible nor effective.

There are simpler solutions that could actually deliver emissions reductions at scale in the near-term, and in­novative sources of finance that could be mobilized at the scale needed. Governments should focus their efforts on developing more efficient and implementable policy frameworks and incentives to halt global deforestation instead of relying on unworkable carbon offset approaches.”

A pretty gloomy report by Friends of the Earth in the context of the Durban climate top.