This report analyses the current state of knowledge regarding the role of Nature-based Solutions (NbS) in climate change mitigation. It shows that in order to keep temperature rising to 1.5 degrees and achieve net zero by 2050 a significant contribution from NbS is both necessary and possible, provided the necessary finance is made available. It assesses the role that carbon offsets can play in the overall finance package. The report is authored by experts from the United Nations Environment Programme (UNEP) and the International Union for Conservation of Nature (IUCN).