ranging from zero to the total emissions avoided from new protections of mangroves that are equal in area to the global projected annual mangrove loss. We examine various assumptions on how mangroves are likely to be converted. In the main assessment, we assume that mangroves in each grid cell within a country are subject to a constant risk of deforestation based on the country’s deforestation rates. Other scenarios help develop realistic bounds for the cost of avoided emissions, as explained above y