Even as more companies commit to mitigating deforestation in some areas of the world – for example, in the palm oil industry of Southeast Asia – other regions face continued or increasing deforestation.
Adding our voice in favor of protecting our world, Praxis Mutual Funds® participated in sending letters to more than 20 companies with significant operations or suppliers in Latin America, where ecosystems in several areas are at risk.
Many companies have adopted policies forbidding deforestation in order to meet growing international demand for more sustainably sourced commodities. These policies alone, however, aren’t enough to adequately shield communities and shareholders from the risks of deforestation.
The letters urge companies to drop noncompliant suppliers and commit to joint actions and monitoring. The joint programs would ensure that companies are transparent and consistent in implementing their existing policies against deforestation, and extend coverage to other at-risk areas in Latin America.
The World Bank is working with stakeholders to develop deforestation-free corporate supply chains by 2020. Green Century is leading the investor part of this collective effort.