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These days paper does have less impact on deforestation, but it contributes to the degradation of the forests. Recycled paper is the best option because it uses less resources and encourages reuse.

The quality of recycled papers is more than sufficient for most common uses.

If you buy virgin paper, find a brand which has the FSC certification, and if it has been whitened, get one that has has been bleached without chlorine (TCF).