A functional measuring, monitoring, reporting and verification (MRV) system is essential to assess the additionality and impact on forest carbon in REDD+ (reducing emissions from deforestation and degradation) projects. This study assesses the MRV capacity and readiness of project developers at 20 REDD+ projects in Brazil, Peru, Cameroon, Tanzania, Indonesia and Vietnam, using a questionnaire survey and field visits. Nineteen performance criteria with 76 indicators were formulated in three categories, and capacity was measured with respect to each category. Of the 20 projects, 11 were found to have very high or high overall MRV capacity and readiness. At the regional level, capacity and readiness tended to be highest in the projects in Brazil and Peru and somewhat lower in Cameroon, Tanzania, Indonesia and Vietnam. Although the MRV capacities of half the projects are high, there are capacity deficiencies in other projects that are a source of concern. These are not only due to limitations in technical expertise, but can also be attributed to the slowness of international REDD+ policy formulation and the unclear path of development of the forest carbon market. Based on the study results, priorities for MRV development and increased investment in readiness are proposed.