PROGRESS ON THE NEW YORK DECLARATION ON FORESTS GOAL 7 PROGRESS REPORT: ANNEX

The annex evaluates the gap between the economic mitigation potential of forests and the quantitative targets set in NDCs for 32 high-potential countries. It identifies a global annual finance need for forest protection and restoration ranging from USD 45 billion to USD 460 billion, while noting that current 'green finance' flows are significantly lower than 'grey finance' flows directed toward sectors like agriculture.

• The maximum global mitigation potential for forests is estimated at 16.2 GtCO2e per year, with 15.6 GtCO2/e specifically attributed to reduced deforestation, afforestation/reforestation (A/R), and improved forest management. Approximately 50% of this potential is achievable at carbon prices up to USD 100/tCO2e.
• Among the 32 countries with the highest economic mitigation potential for forest activities, only 11 have provided quantitative mitigation targets in their NDCs. For many high-potential countries, such as Brazil and the Democratic Republic of the Congo (DRC), NDCs lack clear numerical targets for reducing deforestation.
• Brazil and Indonesia exhibit the highest economic mitigation potential for avoided deforestation, with Brazil at 396.7 MtCO2/year and Indonesia at 275.7 MtCO2/year (at USD 20/tCO2).
• The estimated annual global finance required to protect, restore, and enhance forests to meet Paris Agreement goals ranges from USD 45 billion to USD 460 billion. The upper bound includes USD 180 billion per year for reducing deforestation by 45% by 2050 and USD 280 billion per year for A/R, silvopasture, mangrove, and peatland restoration.
• In 2021, total estimated 'green finance' for forest mitigation (including international mitigation finance and REDD+ funding) was USD 24.5 billion, which is substantially lower than the USD 174.6 billion in 'grey finance' flowing into agriculture and forestry in deforestation countries.

APA

Forest Declaration Assessment (2021). PROGRESS ON THE NEW YORK DECLARATION ON FORESTS GOAL 7 PROGRESS REPORT: ANNEX. https://forestdeclaration.org/wp-content/uploads/2021/10/2021NYDFReport_Annex.pdf

Chicago

Forest Declaration Assessment. PROGRESS ON THE NEW YORK DECLARATION ON FORESTS GOAL 7 PROGRESS REPORT: ANNEX. 2021. https://forestdeclaration.org/wp-content/uploads/2021/10/2021NYDFReport_Annex.pdf.

Wikipedia

{{cite report |author=Forest Declaration Assessment |title=PROGRESS ON THE NEW YORK DECLARATION ON FORESTS GOAL 7 PROGRESS REPORT: ANNEX |date=2021 |url=https://forestdeclaration.org/wp-content/uploads/2021/10/2021NYDFReport_Annex.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{forestdeclarationassessment2021progress, author = {{Forest Declaration Assessment}}, title = {{PROGRESS ON THE NEW YORK DECLARATION ON FORESTS GOAL 7 PROGRESS REPORT: ANNEX}}, institution = {Forest Declaration Assessment}, year = {2021}, url = {https://forestdeclaration.org/wp-content/uploads/2021/10/2021NYDFReport_Annex.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }