Costing?
    • Applying the necessary technical exercise to develop figures for actual 
    costs of REDD+ implementation, i.e. the investment needed
    • Various approaches and tools are available, ranging from simple 
    estimates/averages from existing interventions to cost-benefit analysis to 
    modelling, etc. 
    • Approach chosen will depend on data and means available, capacity in the 
    country, etc
    Chile – costs model approach, three scenarios; some data available under 
    existing laws/schemes
    Viet Nam – need to have action plan with sufficient level of detail
   Budgeting?
   • Involves political aspects as well, e.g. how these figures are being presented 
    in the NS/AP, linking to fundraising, who will implement, and where funds 
    come from 
   • Also various approaches possible
   • Based on needs, opportunities and ambitions
   DRC - ambition-based budgeting of USD 1 billion, as 2nd largest tropical forest 
   country in the world after Brazil + long relation building with donors/investors
   Viet Nam – inclusion of who responsible/involved, exploring potential 
   synergies and opportunities to internalise costs
   Key messages
   • Costing/budgeting an important step to prepare for a financial 
    strategy/plan, which will look at actively bridging financing gaps from 
    multiple sources (domestic/international, public/private)(NB: will 
    explore more Day 2)
   • Also important for proposal development (e.g. GCF) – these require 
    detailed & robust economic and financial analysis, adequate choice of 
    financial instruments, etc
   Chile – costs model also useful for developing GCF proposal 
    Key messages, cont.
    • Approach used and level of detail also depends on data availability and 
    accessibility; data & approach should be fit for purpose
    • Decision may be needed on the range of costs and benefits to include, 
    depending on approach used (e.g. CBA)
    • As well as what information is needed to complement 
    costing/budgeting of REDD+ (also relevant for proposals, e.g. co-
    benefits & beneficiaries)
    Viet Nam – consider multiple benefits as supporting argument for 
    investment over long-term, can be quantitative or qualitative, and fuller 
    range of values than considered in past
         Group exercise: 
       Using economic and other 
      information to inform REDD+ 
           planning