The report was released by the Forest Declaration Assessment coalition.
Global deforestation rates remain dangerously high despite international promises to end deforestation and forest degradation by 2030 made at COP26 in Glasgow.
In 2024, the world lost 8.1 million hectares of forest, mostly tropical, which is an area roughly the size of Austria.
Agriculture, including livestock farming and monocrop plantations, accounted for 86% of global deforestation over the past decade.
Public funding for forest conservation amounts to only 1.4% of the $409 billion spent annually on agricultural subsidies that contribute to forest loss.
Only 40% of financial institutions exposed to commodity-driven deforestation risks have implemented policies to address and manage these risks.