In this study, we produced a spatially explicit diagnosis of the deforestation hotspots and future climate risk (2050) of cocoa producing areas, zooming into the top 8 cocoa exporting countries and the main global cocoa traders. Cocoa-driven deforestation often co-occurs with deforestation driven by other agri-commodities, and thus needs to be tackled jointly. Climate risk will be substantially increased in Cote d'Ivoire and Ghana, the two most important suppliers of cocoa, which may lead to supply failures and severe socio-economic impacts if left unaddressed. Climate risk and deforestation have a high spatial variability between and within countries, calling for geographically differentiated approaches to mitigation and adaptation. Large transnational traders depending heavily on West African supplies, as well as the regionally based exporting farmer cooperatives and domestic firms, will be affected by the increased climate risk in that region. Traders operating in Latin America and Southeast Asia might only face a modest increase in climate risk, with subregional exceptions. These results raise concerns about the validity of sustainability commitments made by companies and other sector initiatives, which focus on single commodities and fail to consider the diversity of actors adding pressure on landscapes. Tackling these issues requires a collaborative effort from various sectors and stakeholders involved in land use decisions to prevent the geographical displacement of negative impacts, prioritize urgent action, and implement these changes efficiently and in a coordinated manner. Further, sustainability commitments often neglect climate change adaptation, with agroforestry and climate smart agriculture initiatives primarily focusing on carbon reductions and increased farmer income, paying less attention to farm practices that reduce cocoa vulnerability.