REDD+ projects they make up the largest number  carbon credits in the Voluntary Carbon Market (VCM), which was worth almost $2 billion in 2021 – almost four times its value in 2020. It has come a long way since the first REDD credit was issued under the Voluntary Carbon Standard in 2011. Over the course of ten years, REDD+ – which means reducing emissions from deforestation and forest degradation, while "+" refers to sustainable forest management,   protection  a reforestation – passed from the little-known Framework Convention United Nations about climate change. (UNFCCC) on a critical policy solution for rainforest countries. Until last year, VCM growth projections were optimistic. Non-profit initiative Ecosystem Marketplace painted an optimistic picture for 2022 in its annual report "The State of Voluntary Carbon Markets" as carbon prices rose. (Gabrielle See)