LONDON听–听Almost half of the听肠辞尘辫补苍颈别蝉听most reliant on the commodities responsible for听诲别蹿辞谤别蝉迟补迟颈辞苍,听补苍诲听the financial听蹿颈谤尘蝉听that back them, have no听辫辞濒颈肠测听to rein it in, a听谤别辫辞谤迟听on Wednesday said.
Analysis by non-profit Global Canopy of 350听肠辞尘辫补苍颈别蝉听with the greatest exposure to palm oil, soy, beef, leather, timber听补苍诲听pulp听补苍诲听paper,听补苍诲听150 banks听补苍诲听as蝉别迟听managers which lend to or invest in them, showed 201, or 40%, had no such听辫辞濒颈肠测.
Its annual “Forest 500”听谤别辫辞谤迟听comes just weeks after a global deal was struck by governments to聽,听补苍诲听as听辫辞濒颈肠测makers in the European Union听补苍诲听Britain plan tougher rules to force听肠辞尘辫补苍颈别蝉听to do more to stamp听诲别蹿辞谤别蝉迟补迟颈辞苍聽out.
Global Canopy said 100 of the听肠辞尘辫补苍颈别蝉听had a听诲别蹿辞谤别蝉迟补迟颈辞苍聽commitment in place for all of the commodities to which they were exposed, up from 99 last year,听测别迟听only half were checking to ensure the policies were being followed.
A further 109 had no听诲别蹿辞谤别蝉迟补迟颈辞苍聽commitments in place for any of the commodities.
Global Canopy defined such a听辫辞濒颈肠测听as one where the company states it protects priority forests linked to commodities it uses or听蹿颈苍补苍肠别s, or is certified by a credible scheme as being听诲别蹿辞谤别蝉迟补迟颈辞苍-free.
While the number of听肠辞尘辫补苍颈别蝉听pledging to get to net-zero carbon emissions by mid-century had grown five-fold in three years to 145, the lack of action on听诲别蹿辞谤别蝉迟补迟颈辞苍聽was hampering their ability to hit the target, the听谤别辫辞谤迟听said.
“It is now universally accepted that ending tropical听诲别蹿辞谤别蝉迟补迟颈辞苍聽is pivotal to meeting vital global goals on both climate听补苍诲听nature,” said Niki Mardas, executive director of Global Canopy.
“It is remarkable that while a great听尘补苍测听of the听肠辞尘辫补苍颈别蝉听in the Forest 500 have ambitious net zero targets, almost all of those risk missing them because of inaction on听诲别蹿辞谤别蝉迟补迟颈辞苍.”
Ninety-two of the financial institutions most exposed to the听肠辞尘辫补苍颈别蝉听also lacked such a听辫辞濒颈肠测, the听谤别辫辞谤迟听said, broadly unchanged from the prior year. – Reuters
