‘Sustainable cocoa’ has attracted considerable attention. However, stakeholders in cocoa development may differ in their understanding of sustainable cocoa, their interests and actions taken in advancing sustainable cocoa. This article analyses cocoa sustainability at nested scales and analyses to what extent sustainability standards, policies and development projects address sustainability concerns and contribute to ecosystem services. The analysis is based on literature reviews and key informant interviews in Sulawesi (Indonesia), Ucayali (Peru) and Centre Region (Cameroon). Producers in all three countries shared concerns of price volatility, weak farmer organizations and dependence on few buyers. Producers in Sulawesi and Centre Region compensated low returns to cocoa production by diversification of cocoa systems. Public and private development actors were concerned with low production volumes. Research has so far focused on biodiversity loss, which differed depending on the cocoa sector’s age in a country. Policies and development programs in all countries have focused on cocoa sector expansion and productivity increases, irrespective of smallholder needs for economically viable farming systems and existing market structures resulting in little bargaining power to farmers. Sustainability standards have spread unevenly and have converged in compliance criteria over time, although initially differing in focus. Recently added business and development criteria of sustainability standards can potentially address farmers’ concerns. Competing interests and interdependencies between different actors’ responses to concerns have so far not been openly acknowledged by public and private sector actors.