This article looks at the evolving concept of “Green Economy” and its potential synergies and trade-offs with biodiversity governance and land use management. By analyzing the accelerating debate and institutionalization of forest-based mitigation projects that are inclined to market-based funding in developing countries through Reducing Emissions from Deforestation and Forest Degradation and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries (REDD+), this study aims to critically engage with the promises of a Green Economy that have been purported internationally. We empirically analyze the global development of REDD+ safeguards and standards with a special focus on the role of science–policy interfaces and monitoring, reporting, and verification. These outlines are projected to the exemplary case of Costa Rica, a front-runner in developing land use approaches with a strong reputation for conservation and sustainable forestry.