DEFORESTATION: GETTING TO THE ROOT OF THE PROBLEM 1. UNEP, December 2022, COP 15 ends with landmark biodiversity agreement 2. BCG, June 2020, The Staggering Value of Forests - and How to Save Them 3. United Nations Forum on Forests, April 2013, Economic Contributions of Forests 4. FAO, 2020, The State of the World’s Forests 5. WEF, April 2022, Here’s How the Earth’s Forests Have Changed Since the Last Ice Age 6. International Forest Industries, January 2020, 27 football 昀椀elds of forest lost every minute due to deforestation 7. FAO, March 2007, Manual on deforestation, degradation and fragmentation using remote sensing and GIS 8. Our World in Data, 2015, Deforestation and Forest Loss 9. WEF, April 2022, Here’s How the Earth’s Forests Have Changed Since the Last Ice Age 10. WEF, April 2022, Here’s How the Earth’s Forests Have Changed Since the Last Ice Age 11. Our World in Data, 2015, Deforestation and Forest Loss 12. CIFOR, 2021, Slowing deforestation in Indonesia follows declining oil palm expansion and lower oil prices 13. CIFOR, 2021, Slowing deforestation in Indonesia follows declining oil palm expansion and lower oil prices 14. UNEP, May 2020, Earth’s biodiversity depends on the world’s forests 15. IISD: SDG Knowledge Hub, July 2021, Preventing future pandemics starts with protecting our forests 16. COP 27 refers to the 2022 United Nations Climate Change Conference held in Sharm el-Sheikh, Egypt. 17. COP 15 refers to the 2022 United Nations Biodiversity Conference of the Parties to the UN Convention on Biological Diversity held in Montreal, Canada. 18. European Commission, June 2019, EU and Mercosur reach agreement on trade 19. CIRCABC, August 2022, https://circabc.europa.eu/ui/group/09242a36-a438-40fd-a7af-fe32e36cbd0e/library/abfa1190-59d1-4f59-93a5-9b9810d2b744/details 20. European Commission, December 2022, Green Deal: EU agrees law to 昀椀ght global deforestation and forest degradation driven by EU production and consumption 21. European Commission, April 2023, Parliament adopts new law to 昀椀ght global deforestation 22. European Securities and Markets Authority, May 2014, MiFID II 23. Under the EU Sustainable Finance Disclosure Regulations, Principal Adverse Impacts are any impact of investment decisions or advice that results in a negative e昀昀ect on sustainability factors. 24. D o No Signi昀椀cant Harm (DNSH) refers to products or services which do not harm any of the six environmental objectives in Article 9 of the EU Taxonomy. 25. FT.com, August 2021, US forest 昀椀res threaten carbon o昀昀sets as company-linked tress burn 26. International Finance Corporation, October 2016, Slide 1 (ifc.org) and Climate Bonds Initiative, Forest Bonds | Climate Bonds Initiative Investing involves risk. 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