Forestry and agricultural concessions, such as those hosting logging activities or growing oil palm, are hotbeds of deforestation. Our research finds that surprisingly large swaths of natural forests are still standing within concessions, performing essential carbon storage services and supporting critical biodiversity. Through economic viability analyses, we further demonstrate that many of these otherwise highly threatened forests can be protected with green finance, representing a promising pathway for concessionaires to transition their lands towards nature conservation and climate action.