The financial implications of implementing a new forest management paradigm have not been well understood and have often been underestimated. Resource needs for e.g., stakeholder consultation, capacity building and addressing the political economy are seldom fully accounted for in the resource needs estimates put forward in connection to REDD+. This report investigates the economics of implementing forest and REDD+ projects through eight case studies from Africa, Latin America and Asia, analyzing real forest and REDD+ investments.