Readiness and Avoided deforestation policies: on the use of the REDD fund

The first phase of the REDD+ mechanism consists of helping countries to improve their capacity to carry out national forest inventories, notably to assess land-use changes and forest carbon stocks and fluxes. However, there might be some links between the funding of this first phase and the quantity of avoided deforestation that will happen during the following phases of REDD+. This paper precisely investigates those links, using a simple two-step, twoplayers, subsidiary-based REDD+ mechanism.