LONDON: Most big companies are failing to report the damage their operations are doing to forests despite committing to lighten their footprint under wider efforts to tackle climate change, according to a report published on Tuesday.
"Consumers increasingly want to know that their shopping basket isn’t driving the destruction of the Amazon, extinction of the orangutans and the climate crisis," she said in a statement.CDP has emerged as a leading voice in a broader push by investors seeking disclosure from companies on the risks they may face as global warming exposes them to extreme weather, supply chain collapse and a host of other forms of disruption.
Of the 306 companies that did report data, 24per cent showed no or limited action to reduce deforestation, despite brand damage from being associated with the loss of forests the most frequently cited risk, CDP said.CDP named French beauty brand L'Oreal and German consumer goods manufacturer Beiersdorf AG as the leaders in seeking out sustainable sources of palm oil.
Underscoring the slow progress, trader Cargill Inc said last month that it and the broader food industry would fail to meet a 2020 goal to end deforestation, while pledging to do more to protect forests and native vegetation in Brazil.
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