An important new report titled “A Climate Wake-Up” was published by Forest 500, a project of Global Canopy. The report analyzes commitments to address deforestation as well as human rights commitments in the financial sector, food sector, and within agri-commodity companies. In its 2022 annual report, it is noted that:
- Nearly three out of four (72%) of the 350 companies do not have a deforestation commitment for all of the forest-risk commodities in their supply chains.
- One-third (117/350) of companies have no deforestation commitments at all – a small decrease on last year.
- While 28 companies published a new commitment to address deforestation since last year, just 11 of these have a deforestation commitment for all of the commodities they are exposed to.
- Many companies with commitments are failing to provide evidence of how they are implementing them, particularly for soy, beef and leather supply chains.
- None of the companies assessed had a comprehensive approach to human rights.
The report further points out that,
“While consumers are clear that they do not want deforestation on their plates, 27 of the 103 food sector companies assessed do not have a deforestation commitment for all of the beef, soy, and palm that they are exposed to in their supply chain.
While companies in the food sector are most likely to have a commitment to end deforestation in palm oil supply chains, they are less likely to have a commitment for soy or beef supply chains.
Some 75% of the soy produced globally is used for animal feed, so is a hidden ingredient in fish, meat and dairy products.
27% of food sector companies in palm supply chains do not have a commitment that covers their palm oil sourcing
58% of food sector companies in soy supply chains do not have a deforestation commitment for their soy supplies
And just 37% of those with a deforestation commitment for soy apply it to hidden soy
64% of food sector companies in beef supply chains do not have a deforestation commitment for their beef supplies.” (p. 20)
Recommendations are presented for Forest 500 companies and financial institutions, governments, and civil society.
Source: Forest 500, A Project of Global Canopy. A Climate Wake-Up: But Business Failing to Hear the Alarm on Deforestation, January 2022.
You can access the full report at: https://forest500.org/sites/default/files/forest500_2022report_final.pdf
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