New Zealand

Any REDD mechanism must provide developing countries with adequate  financial resources to compensate them for the economic benefits they forgo  by reducing deforestation and degradation.

New Zealand supports a phased approach with some form of fund to aid  countries’ development of a national-level approach, even if a market-based  approach at the national level is ultimately agreed as the primary funding  mechanism.

Any mechanism should have maximum potential for global coverage, as this  is the best way to address issues of international leakage. The mechanism  should not apply arbitrary adjustments to financial incentives to ‘correct’  for possible international leakage.