Targeting climate finance for global forests

Meeting global climate goals requires understanding where forest‑based mitigation is most cost‑effective. Using regional targets aggregated from Nationally Determined Contributions (NDCs), this study estimates that regions holding 70% of global forest carbon can achieve their mitigation goals at carbon prices below $100 per tonne. Total investment needs range from $20–72 billion per year by 2030. Under a globally coordinated scenario—where finance flows to the lowest‑cost opportunities—mitigation in 2030 could double relative to the upper‑bound NDC scenario at no additional cost. These findings highlight substantial cost‑savings potential and underscore the importance of aligning future NDCs with regions offering low‑cost forest‑mitigation opportunities.