Nearly two-thirds of financial institutions have no commodity-specific policies to address deforestation risks in their portfolios, including the world’s biggest asset managers, according to a report from Global Canopy cited by Investment Week
(13 January, Gallagher). The report, released Thursday, showed BlackRock, Vanguard, and State Street, the top three global asset managers by assets under management, have not made public policies to avoid deforestation. In the United Kingdom, Baillie Gifford, Legal & General, Janus Henderson, and Schroders were also called out for their inaction. At COP26 last year, asset managers pledged to play a role in tackling deforestation, with roughly 30 firms with US$8.7 trillion in assets under management responding to the COP presidency request for financial institutions to take action to eliminate agricultural commodity-driven deforestation from their portfolios by 2025.
From "Global Asset Managers Taking No Action to Stop Funding Deforestation"
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