As the dust settles after Copenhagen and the barriers to reaching global  consensus on combating climate change are put into stark relief, REDD  still has potential to become a UNFCCC success story. In relation to  REDD, there is agreement on many core issues and significant momentum  remains towards a REDD mechanism firmly engrained in the post-2012  climate change framework. Yet most debate occurs in the abstract with  policy and methodological decisions made with minimal conception of how  these issues will play out in REDD participant countries. This article  aims to break this trend and takes a prominent REDD pilot activity as  its reference point. The Ulu Masen Project in Aceh , Indonesia , while  only in its infancy, provides valuable lessons on legal frameworks,  benefit-sharing and financing. Through analysis of UNFCCC negotiations  on REDD and an examination of how relevant issues have been addressed in  the Ulu Masen Project, the article aims to contribute to a more  grounded, practical debate on a future UNFCCC REDD mechanism.