This report examines the cocoa supply chain, its associated deforestation, and the role and limitations of certification schemes to reduce deforestation. The deforestation-related commitments from cocoa companies are analyzed across the value chain by looking at commitment types, implementation, and the enabling environment. These findings are compared with lessons from palm oil since it has the most similarities to cocoa due to its large contingent of smallholder producers and limitations that exacerbate deforestation. Finally, a vision for zero-deforestation cocoa with key principles and strategies is described. This work is meant to inform industry, governments, and development partners to be effective actors in a zero-deforestation cocoa future.