Major firms still failing to tackle deforestation: Global canopy

Global Canopy report highlights lack of deforestation policies among major brands, urging rapid action and regulation for change.

Many global brands with supply chains linked to tropical forest loss do not have a single deforestation policy, said non-profit research group Global Canopy, adding that 10 years of monitoring showed voluntary action from industry “has failed”, in a report published Tuesday.

From land clearance for cattle farming to palm oil plantations, there is growing recognition of the human-driven threats to the world’s forests and the importance of protecting them in the fight against climate change and devastating biodiversity loss.

Almost 200 countries at the COP28 climate talks last year gave their support to the goal of halting and reversing deforestation by 2030.

The Forest 500 analysis by Global Canopy, noted “pockets of progress” from a handful of leading brands. But 10 years after it first began its annual monitoring of a rolling selection of firms with the biggest impact on tropical forests, the organisation said companies and the financial institutions that fund them are still falling short.

Of the 257 companies and financial institutions that have been in the Forest 500 for the past decade, 61 - 23% still have not published a single commitment on addressing deforestation, it said.

“Voluntary action has failed and we can’t rely on it any further to achieve deforestation free, conversion free and human rights abuse free supply chains, we do need to see regulation,” said Emma Thomson, who led the research.