Finance Sector Roadmap: Eliminating Commodity-Driven Deforestation
The Finance Sector Roadmap is designed to provide a broad range of financial institutions, including asset owners, pension funds, asset managers, insurers and banks with guidance on eliminating deforestation, conversion, and associated human rights abuses from their portfolios, with a target date of 2025.
Consultation: Deforestation-free pension funds guidance
Many pension funds are exposed to deforestation, conversion and the associated human rights abuses through their financing activities. Global Canopy, alongside partners Make My Money Matter and SYSTEMIQ, are developing guidance on this and requesting feedback on the detailed outline of this guidance from any interested parties.
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Using pensions to halt deforestation
Global Canopy, Make My Money Matter and SYSTEMIQ are seeking feedback before 5 April 2022 as part of a consultation on practical guidance being developed for pension funds to identify, address, and eliminate deforestation, ecosystem conversion, and associated human rights abuses from their portfolios.
Financial institutions are uniquely placed to help companies make the transition to deforestation-free supply chains. By committing to address deforestation risks in their lending and investment, they can help to drive change.
Rapid action is needed to achieve the Paris agreement goal of maintaining global temperature risk below 1.5 degrees and the global goal for nature to halt and reverse biodiversity loss by 2030.
The Finance & Deforestation Advisory Group has created a Roadmap to provide all types of financial institutions with practical guidance on eliminating commodity-driven deforestation from their portfolios and reporting transparently on progress by 2025.
Further detailed guidance for specific types of financial institutions will become available in 2022.