With reference to the 'New York Declaration on Forests', which of the following statements are correct? 1. It was first endorsed at the United Nations Climate Summit in 2014. 2. It endorses a global timeline to end the loss of forests. 3. It is a legally binding international declaration. 4. It is endorsed by governments, big companies and indigenous communities. 5. India was one of the signatories at its inception. Select the correct answer using the code given below.

Let's analyze each statement regarding the 'New York Declaration on Forests' (NYDF):

1. It was first endorsed at the United Nations Climate Summit in 2014: The New York Declaration on Forests was indeed launched and endorsed for the first time at the UN Climate Summit held in New York in September 2014. This statement is correct.

2. It endorses a global timeline to end the loss of forests: The NYDF sets ambitious, voluntary targets, including a goal to halve deforestation by 2020 and to strive to end natural forest loss by 2030. This statement is correct.

3. It is a legally binding international declaration: The New York Declaration on Forests is a voluntary and non-legally binding political declaration. It is not a treaty or convention that creates legal obligations for its signatories. This statement is incorrect.

4. It is endorsed by governments, big companies and indigenous communities: At its inception, the NYDF was endorsed by a diverse group of over 150 partners, including national and sub-national governments, multinational corporations, civil society organizations, and indigenous peoples' organizations. This broad endorsement reflects a multi-stakeholder approach. This statement is correct.

5. India was one of the signatories at its inception: India was notably NOT one of the initial signatories or endorsers of the New York Declaration on Forests in 2014. India had expressed reservations regarding potential sovereignty issues and national development priorities. This statement is incorrect.

Therefore, statements 1, 2, and 4 are correct.