This report is based on a review of more than 250 studies, demonstrating the importance and urgency of climate action to protect the forests of the indigenous and tribal territories of Latin America as well as the indigenous and tribal peoples who protect them. These territories contain about a third of the continent's forests and are home to an enormous diversity of wild fauna and flora and play a key role in stabilizing the local and regional climate. A set of investments and policies is proposed for adoption by climate funders and government decision-makers in collaboration with indigenous and tribal peoples. These measures are grouped into five main categories: i) strengthening of collective territorial rights; ii) compensate indigenous and tribal communities for the environmental services they provide; iii) facilitate community forest management; iv) revitalize traditional cultures and knowledge; and v) strengthen territorial governance and indigenous and tribal organizations.