56228
Firms Underestimating Risks of Deforestation
Firms Underestimating Risks of Deforestation
  1. People
  2. Environment

Firms Underestimating Risks of Deforestation

  1. People
  2. Environment

Firms Underestimating Risks of Deforestation

London-based non-profit Carbon Disclosure Project released a report earlier this month—produced on behalf of 365 investors representing $22 trillion in funds—which analyzes data disclosures by 187 companies regarding their deforestation risk management strategies.
CDP’s analysis found that these global corporations, including consumer companies like Colgate Palmolive, L’Oréal, McDonald’s Corporation and Marks & Spencer, as well as major global commodities traders such as Archer Daniels Midland and Bunge, rely on the four main deforestation-linked agricultural commodities (cattle products, palm oil, soy and timber products) for nearly a quarter of their revenues, Mongabay reported.
Although a significant share of their income is dependent on agricultural commodities, just 42% of the companies surveyed by CDP evaluated their supply chains to determine how their growth strategies for the next five years will be impacted by the availability or quality of those raw materials.
In its third annual ranking of what it calls the “Forest 500”, the UK-based think tank Global Canopy Program determined that, given the current rate of progress, ambitious deforestation targets for 2020 and 2030 such as those committed to by the Consumer Goods Forum and signatories to the New York Declaration on Forests are not likely to be met.
“Companies need to address the sustainability of products that drive deforestation quite simply to protect their balance sheets,” Katie McCoy, the head of forests at CDP, said in a statement.
“Supply chains are like rows of dominoes: If unsustainable commodities enter the top of a supply chain, the effects will cascade throughout. Failing to address deforestation will have knock-on reputational impacts, manifesting themselves as consumer boycotts, community opposition and increased regulatory scrutiny. Business growth is at risk.”

 

Short URL : https://goo.gl/pe5AQo
  1. https://goo.gl/eaiunY
  • https://goo.gl/1T7xHs
  • https://goo.gl/u98RPP
  • https://goo.gl/BE9BhF
  • https://goo.gl/lmgy7F

You can also read ...

DOE Plans to Protect Endangered Animals
The Department of Environment has prepared comprehensive plans...
More People Pay for Perfect Teeth
More Iranians are using services offered by cosmetic and...
Fizzy Drinks Consumption
Carbonated or fizzy drinks are one of the most-consumed...
$45m for Bushehr  Flood Relief
Funds amounting to $45 million (1,717 billion rials) were...
Tackling Drug Trade on Southern Route
Representatives from the Triangular Initiative (TI) countries -...
‘Chaharshanbe Suri’ Quieter
This year’s celebrations known as ‘Chaharshanbe Suri’ of the...
Healing Scars in Burn Patients
Burn patients in Iran are faced with enormous challenges due to...
The Arctic is warming at about twice the global average rate.
Natural changes in the environment are responsible for about 40...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus