LTS Safeguarding REDD+: Working Towards Robust, Efficient and Transparent Financial Governance
Global Witness has contracted LTS to identify the main risks in REDD financial flows (from both public and private sources) from international to local level, and to propose appropriate financial audit mechanisms and safeguards to mitigate these risks. LTS will review existing funding mechanisms, assess the various risks (misrepresentation, misappropriation, inefficiencies), and then produce a system of checks and oversight mechanisms, drawing on international audit and public finance best practice. LTS is leading the study which involves the following tasks: i) describing and categorising possible funding models for REDD and for each generic model describe how and where the major risks occur and what safeguards might be applicable to prevent this. The major existing REDD funds will be mapped onto this framework of possible funding models; ii) comparing these generic models in terms of aggregate risk; identify and recommend what best practice structure and model of governance (including oversight mechanisms and appropriate financial safeguard and audit mechanisms) should be in place at the international level to ensure that public and private funds are distributed transparently and accountably between different REDD countries.