The conservation of world forests is an important measure in order to address the ever-worsening consequences of climate change.
The prime objective of REDD is to address a global market failure that arises from the fact that the social marginal benefit of keeping forests standing is quite often a lot greater than its private marginal benefit. Therefore, forests deliver many positive externalities that are not confined to their direct users; these externalities are not captured by the market system, which typically does not reflect social benefit considerations in the price incentives faced by individuals. REDD would therefore provide local communities in forested areas with financial incentives to perform the globally-valuable function of preserving their forests.
Tanzania has over 34 million hectares of forests and woodland habitats (more than 30% of the whole country). REDD strategies in Tanzania should be integrated with, and improve upon, current conservation strategies.
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