1) Climate change is significantly impacted by deforestation, which could lead to $1 trillion in annual damages by 2100 if left unaddressed. 2) Reducing deforestation would help protect the livelihoods of millions of people who depend on forests and lower the costs of tackling climate change. 3) A new global deal is needed that includes reducing deforestation emissions and provides financing to developing countries through carbon markets and other mechanisms, with a goal of halving deforestation by 2020 and making forests carbon neutral by 2030.