Launch: Deforestation Action Tracker 2023
Launch of Global Canopy’s 2023 Deforestation Action Tracker, 27 November 2023
The regulatory net is tightening in on deforestation finance, yet financial institutions participating in the Glasgow Financial Alliance for Net Zero (GFANZ) and Race to Zero are still failing to improve their deforestation risk exposure, despite institutional net zero or emissions reductions pledges. Why?
Global Canopy’s 2023 Tracker found only marginal improvements:
75% of GFANZ/Race to Zero FIs still do not have a single publicly-available deforestation plan
10% had policies for all high risk commodities
15% had a policy for at least one (but not all) commodities
OF those with policies, 75% had a target date – majority were 2025 (which is best practice)
Watch the webinar chaired by David Shukman, with panellists including Emma Thomson of Forest 500 and Puninda Thind of the UN Climate Champions team here.