LONDON : A third of the 350 companies most exposed to commodities such as palm oil, beef and timber have no policies to ensure their products are not fuelling deforestation, a report by NGO Global Canopy showed on Thursday.
Britain has already made it a legal responsibility for companies to ensure they have no illegal deforestation in their supply chains, and the European Union and United States are looking at similar legislation. Among 150 of the world's leading financial institutions that finance the companies to the tune of US$5.5 trillion, just 38per cent had a clear policy on addressing deforestation, it added.
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