A third of commodity-hungry firms have no deforestation policy: Report

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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 Ca

nopy 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. In its annual 'Forest 500' report, Global Canopy said just 28 per cent of companies that produce, use, trade or sell commodities had comprehensive policies covering all those they were exposed to.

"Last year saw unprecedented political action as more than 140 governments recognised the urgent need to protect forests, yet most companies and financial institutions with the greatest ability to halt deforestation are doing little or nothing," said Niki Mardas, executive director of Global Canopy.

 

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