An investor-led effort to urge companies to disclose their ‘forest footprint' has published its first report, with 35 firms responding. The Forest Footprint Disclosure (FFD) project aims to replicate for deforestation what the Carbon Disclosure Project (CDP) has done for climate risk, wielding the clout of investors to drive greater disclosure, and encourage asset managers to consider their exposure to risks around deforestation. The FFD's 2009 report was backed by 34 investors, with $3.5 trillion under management.
Like the CDP, launched in 2000 and now backed by investors with $55 trillion of assets under management, the FFD sends out a questionnaire, in this case to 217 international firms in the Fortune 500 which have exposure to ‘forest risk commodities' - such as palm oil, soy, timber, beef, leather and biofuels. However, response rates were relatively low in the first year of the FFD, with 35 companies returning a filled-in questionnaire. Read more (Environmental Finance) or read the report
15 February 2010
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