The Noel Kempff Mercado Climate Action Project (“NKCAP”) is preserving the rich, biologically diverse ecosystems of north-eastern Bolivia’s Noel Kempff Mercado National Park while preventing the release of millions of tons of carbon dioxide over 30 years. NK-CAP, nonetheless, serves as an example of how well designed REDD projects can result in real, scientifically measurable, and verifiable emissions reductions with important benefits for biodiversity and local communities. This report summarises the project and its structure as well as the community benefits it has generated.