The first KPI tracks emissions intensity relative to a 1990 baseline. The most recent data shows a 48% reduction — a -2% year-on-year trend that, if maintained, would meet the 50% base target and avoid a 15bps step-up.
The second KPI measures native forest area against a 2012 baseline, updated only every four years with a one-year lag. No new data was available in May 2026; AFII maintains prior estimates of 25% chance of missing the lower target and 40% chance of achieving the stretch.
AFII's updated illustrative option value stands at 1.2bps running, down from 5.0bps, reflecting the shorter remaining maturity and improved emissions trajectory.
