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The report provides an economic analysis of securing indigenous land rights in the Amazon basin of Bolivia, Brazil, and Colombia. Using matching analysis, it finds that tenure-secure indigenous forestlands have significantly lower deforestation rates than similar non-secure lands. A benefit-cost analysis indicates that the investment is low-cost and high-benefit, with total ecosystem service benefits estimated between $679 and $1,530 billion over 20 years, while costs represent less than 1 percent of these benefits. The report argues that securing indigenous tenure is a more cost-effective carbon mitigation measure than fossil carbon capture and storage. It recommends that governments reform laws to strengthen community land rights and integrate tenure security into their Nationally Determined Contributions (NDCs).