Recognizing the invaluable role of forests in the fight against climate change, countries and the international community have established a framework known as Reducing Emissions from Deforestation and Forest Degradation, and the role of conservation, sustainable forest management, and the enhancement of forest carbon stocks in developing countries (REDD+). This framework aims to encourage countries to reduce deforestation and degradation by offering financial rewards or results-based payments (RBPs) for verified emission reductions, at the same time promoting sustainable development. While the existence of various international RBPs and carbon market schemes valuing emission reductions (ERs) presents multiple opportunities for countries participating in REDD+, there is a critical need to clarify ERs rights and determine who benefits from REDD+ results. This study offers a comprehensive comparative analysis that focuses on the nature and allocation of ER rights, as well as the legal entitlements associated with REDD+ outcomes. To conduct this study, legislation from more than twenty countries across Africa, Asia and the Pacific, and Latin America was reviewed between November 2021 and June 2023.