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The conservation of tropical forests is one of the main challenges of this century; however, areas established for forest conservation will not be able to ensure the conservation of all species. Future conservation of biodiversity and forest ecosystems will have to take place in sustainably managed tropical forests. Sustainable forest management (SFM) aims both to ensure the flow of goods and services and to maintain forest processes intact, safeguarding the array of functional species that provide those goods and services. This issue brief presents the main challenges to sustainable management of tropical forests and specifies changes necessary in order to meet them.