Most firms yet to set deforestation policy

Global Canopy’s analysis of 350 companies with the greatest exposure to palm oil, soy, beef, leather, timber, pulp and paper, and 150 banks and asset managers that lend to or invest in them, showed that 201, or 40%, had no such policy. — Reuters

LONDON: Almost half of the companies most reliant on the commodities responsible for deforestation, and the financial firms that back them, have no policy to rein it in, a report says.

Global Canopy’s analysis of 350 companies with the greatest exposure to palm oil, soy, beef, leather, timber, pulp and paper, and 150 banks and asset managers that lend to or invest in them, showed that 201, or 40%, had no such policy.