Recently we read in the newspapers that developing nations could potentially earn billions of dollars by setting aside and rehabilitating their forests under an upcoming scheme of United Nations. What is the name of this scheme?

REDD (Reducing Emissions from Deforestation and Forest Degradation) is a UN framework that offers financial incentives to developing countries for protecting and rehabilitating their forests. Developed countries can purchase carbon credits from developing nations that maintain their forest cover, potentially creating billions in revenue. RETT, RGGI, and CET are different environmental or trading mechanisms.