Description
Global Canopy targets the market forces destroying nature. We are a 60-strong not for profit organisation headquartered in Oxford and working with partners around the UK and in Brazil, Indonesia, Sweden, and China.We provide data for nature. This means we improve the data and tools available for companies and financial institutions so that they can reverse nature loss instead of driving it. We hold financial institutions and companies to account for their actions and show them how to change. We advise governments and politicians on legislation around market impacts on nature, working to strengthen the expectations and regulations that govern corporate behaviour. We focus on halting and reversing deforestation. Forests are home to the majority of the world’s biodiversity and are essential carbon sinks absorbing our greenhouse gas emissions. Approach
The finance sector can and should be taking a lead on halting and reversing nature loss. On deforestation they must establish policies and publicly commit to deforestation-free portfolios while encouraging others to do the same.Financial institutions are uniquely placed to influence companies to shift their practices towards becoming nature-positive and deforestation-free. Financial institutions should sign up to the commitment letter on eliminating commodity-driven deforestation. Financial institutions should commit to using the Finance Sector Roadmap to eliminate commodity-driven deforestation, conversion and associated human rights abuses from their portfolio by 2025. As part of the roadmap, financial institutions must also report on their progress towards implementing any policies - at the moment less than half of those with policies do. In the UK, £300 billion of pension fund investments are in companies and financial institutions with high deforestation risk. As the largest group of asset owners in the world, action by pension funds would drive transformative change through the global economy. Pension funds should commit to deforestation-free portfolios and follow our sector guidance.