This paper presents the results of two national-level studies of REDD+ governance values in Nepal and Papua New Guinea (PNG), using a hierarchical framework of principles, criteria, and indicators (PC&I), with evaluation at the indicator level. The research was conducted by means of an online survey to determine general perspectives on the governance quality of REDD+, as well as stakeholder workshops, in which participants were asked to rank indicators on the basis of perceived national significance. In the online survey, respondents in both countries identified inclusiveness and resources as the highest and lowest scoring governance values, while inclusiveness, resources, accountability, and transparency, were given priority, although their relative importance differed between countries given national circumstances. The reasons for the commonalities and differences of perceptions between these countries are discussed. The findings suggest that while a generic set of governance values may be usefully applied for determining the institutional legitimacy of REDD+, their relative importance is different. This leads to the conclusion that it may not be appropriate to use a simplified approach to REDD+ governance, focusing for example on safeguards, given different national priorities and contexts.