Internationally, financial institutions (FIs) continue to be exempt from crucial regulations to raise their efforts and responsibility to halt deforestation and human rights violations linked to supply chains they finance. Recently, however, some initial steps were proposed in Brazil to change this situation, and a report on Rabobank showed that the environmental and social damage …
The European Parliament adopted its negotiating position on the Corporate Sustainability Due Diligence Directive (CSDDD) on June 1, 2023. Under the CSDDD, companies — potentially including those in financial services — will be obligated to demonstrate what action they are taking to protect not only the environment, but also human rights. Due diligence is not …
The upcoming EU Deforestation Regulation will have an impact on JBS, Minerva and Marfrig. A sample of 12,461 direct and 26,572 indirect suppliers of these key meatpackers shows recent deforestation that may end up in the European Union’s (EU) beef and leather consumption markets. Any deforestation after the proposed December 31, 2020 cut-off date would …
Chain Reaction Research held a webinar that covers the findings of two reports assessing the EU Deforestation Law and its impacts on stakeholders within Brazilian cattle and soy supply chains. The first report assesses the viability and costs of implementing the law for soy and beef supply chains in Brazil. The results show that traceability …
This report discusses the traceability requirement of the new EU regulation on deforestation-free products and the feasibility of its implementation in cattle and soy supply chains in Brazil. Traceability is crucial to ensure that commodity production is not linked to deforestation or forest degradation. Download the PDF here: EU Deforestation Law_Traceability Viable in Brazilian Beef …
Investors are continuing to urge governments and companies to take actions to conserve forests and curb commodity-driven deforestation. A group of NGOs and activist investors are currently putting together a sign-on letter in support of three key pieces of legislation in the United States that aim to decrease deforestation risks and human rights abuses in …
The recently released PRODES data for 2021 shows deforestation of 13,235 km2 (1,323,500 hectares) in the Legal Amazon, the highest number since 2008 and an increase of 22 percent when compared to the previous year (the annual rates cover a timeframe from August of the previous year to July of the current year). Since the …
Just two weeks after a watershed announcement by more than 100 countries at COP26 on eliminating deforestation, the EU released a draft law on November 17 that would require companies to show that their products are not tied to forest clearing. Essentially, the legislation would ban commodities that are linked to deforestation, whether legal or …
Commitments coming out of COP26 could represent a structural shift in efforts to conserve forests and tackle commodity-driven deforestation. The announcement that more than 100 countries, including those with vast amounts of tropical forests such as Brazil and Indonesia, pledged to eliminate deforestation by 2030 is a crucial breakthrough. Fossil fuels typically get most of …
In a landmark decision, on May 26, 2021, a Dutch civil court ordered Shell to cut its CO2 emissions by net 45 percent in 2030 compared to 2019 levels. The decision states that the reduction obligation relates to the Shell’s entire energy portfolio and to the aggregate volume of all emissions (Scope 1 to 3), …
