According to this report, it is still unclear how a future mechanism on reducing emissions from deforestation and degradation (REDD+) may be implemented in practice, and in particular how to design REDD+ to deliver ecosystem conservation and restoration in an economically efficient and socially sustainable way. Nested approaches to REDD+ offer countries an opportunity to account for overall emission reductions and removals (ERRs) from REDD+ activities at the national level, as well as at the level of nested subnational programmes and/or projects within the national system. Although nesting can also add considerable complexity in carbon accounting, risk‐sharing and institutional arrangements, the advantages are seen to outweigh this increased complexity. This report provides background information and preliminary advice to the Government of Vietnam and other stakeholders on how to apply a nested REDD+ approach in Vietnam.