This report reviews corporate action to tackle deforestation with a focus on palm oil, timber, cattle products, soy & biofuels. Aimed at investors and companies, information is presented in a largely visual way. Key messages in order to maximize value and minimize business risks include that a number of challenges exist that are slowing the progress of ‘deforestation-free’ commodities and that risks associated with deforestation and related climate change are not well articulated beyond the producing companies – the same for reputational and operational risks. The report also partly attributes some weaknesses in meaningful action to build traceable and sustainable supply chains from business to slow uptake by producers and processors.