This Just In: Chinese, Indian Companies And Govts Doing Really Lousy Job On Deforestation
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While Latin American countries ranked highest on average, China, which is responsible for importing more than a fifth of the value of all forest risk commodities, and India, a key importer of palm oil, achieved low scores. GCP says deforestation and land use change are critical issues as they not only cause more than 10% of global greenhouse gas emissions, but also undermine regional water security and threaten the livelihoods of more than one billion people worldwide.
It contrasts the lack of action so far against the commitments made last year at the UN Climate Summit by prominent businesses, governments, indigenous communities and civil society to cut natural deforestation in half by 2020 and end it by 2030.
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Those businesses taking little or no action were mainly based in Asia and the Middle East, with Russian businesses coming bottom of the list. The worst performing corporations from developed nations nearly all came from the US and included Domino’s Pizza. Wendy’s, GAP, Kraft Foods, Target and Time Publishing and Media. Notwithstanding these companies, GCP’s analysis shows those companies with revenues exceeding US$10bn (£6.5bn) tend to be the most active, with policy scores averaging nearly double that of companies below that threshold. Corporate governance has also been found to be a key differentiator, with publicly traded companies scoring on average 50% higher than those under private ownership or other governance structures.
Within the investment sector, those funds which came bottom of the league table included US investment giant Charles Schwab, Warren Buffett’s Berkshire Hathaway and Abu Dhabi’s sovereign wealth fund. HSBC was the only bank to score top marks, while Barclays, Lloyds, Wells Fargo and Bank of China were considered to have poorly developed sustainable investment policies.
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http://www.theguardian.com/sustainable-business/2015/feb/11/china-india-companies-perform-worst-deforestation-ranking
