While the summit launched new financial instruments and strengthened the recognition of Indigenous rights, the final binding text is conspicuously silent on the one commitment that matters most right now: a concrete, mandatory roadmap to halt deforestation. …The Brazilian Presidency pushed hard for two ambitious roadmaps: one to phase out fossil fuels and one to halt deforestation. The strategy was to link them, acknowledging the obvious: we cannot save the Amazon if the world keeps warming. …The UN Framework Convention on Climate Change process proved unable to digest the complexity of the forest–climate nexus. We have effectively moved from a consensus-based approach to a plurilateral one, where progress rests on voluntary clubs of nations rather than global law. …If the political outcome disappointed, the financial and rights-based elements provide a measure of hope: The Tropical Forests Forever Faculty—a mechanism that pays nations for standing forests as an asset class, not just for avoided deforestation.

• Related coverage in Mongabay: Brazil’s forest fund faces a slow takeoff at COP30