REDD shows great promise, but also great uncertainty as a policy mechanism for achieving climate, biodiversity, and other important environmental goals.  It is fair to say that nothing of the coverage and scale being proposed has ever been attempted before to address the deforestation problem. With such a major shift in policy contemplated, it is important for the decision makers who will craft these policies to better understand the nature of the underlying problem, the range of possible outcomes (both good and bad), the economic benefits and costs of these outcomes, sensitivity to key policy design parameters, and major uncertainties in the system. Toward that end, the Nicholas Institute, with numerous collaborators and with the support of The David and Lucile Packard Foundation, has produced a series of reports to inform the U.S. and international policy process. The full reports, executive summaries, and policy briefs can all be found on this site. 

The first report is a primer on REDD. International Forest Carbon and the Climate Change Challenge: Issues and Options

The second report explores lessons learned. Policy Impacts on Deforestation: Lessons Learned from Past Experiences to Inform New Initiatives

The third report assesses the economics of REDD.  Including International Forest Carbon Incentives in Climate Policy: Understanding the Economics