Hidden harms: the economic and financial consequences of deforestation and its underlying drivers

Deforestation and land-use change driven by environmentally-damaging extractive activities have far-reaching implications for economies and financial systems. This report furthers exploration of the role of deforestation as a driver of nature loss and source of potential economic and financial destabilisation, building on the work of the Network for Greening the Financial System (NGFS) and the International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE) Study Group on Biodiversity Loss and Financial Stability.