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Biological diversity is the foundation of all human societies and a prerequisite for sustainable economic development. This fact is amply demonstrated by the ongoing global study on “The Economics of Ecosystems and Biodiversity” (TEEB). TEEB also shows that the cost of sustaining biodiversity and ecosystem services is lower than the cost of allowing the further deterioration of biodiversity and ecosystem services Nevertheless, and despite the concerted efforts of the international community to protect biodiversity and the provision of corresponding ecosystem services, biodiversity loss continues to occur at an unprecedented rate. On a global scale, we are falling short of our goals to reduce and eventually halt the rate of biodiversity loss.

The Little REDD Book gave me a jump-start when the Norwegian sponsored REDD program was initiated. When I heard that the Little Climate Finance Book was ready for launching, a hope for a wider understanding of the essence of financing, especially through cap and trade systems, was raised. The climate challenge is substantial, and predictable climate finance is essential in the search for a much-needed global solution. I would like to draw attention to a few observations.

The basic idea behind Reducing Emissions from Deforestation and Degradation (REDD) is simple: Countries that are willing and able to reduce emissions from deforestation should be financially compensated for doing so6. Previous approaches to curb global deforestation have so far been unsuccessful, however, and REDD provides a new framework to allow deforesting countries to break this historical trend.