2. Contents
Chairman’s Introduction 5
Climate, forests and land use change 6
Forest Footprint Disclosure Project
Food Security 8
(FFD) is a special project of the If we halt deforestation, will the world starve? 10
Global Canopy Programme, initiated
in 2008. FFD engages with private How are governments addressing deforestation at the international level? 12
sector companies to ask them to The Journey 14
disclose their current understanding
of their ‘forest footprint’ based on 2012 Timelines: Introduction 17
exposure to five key commodities –
soy, palm oil, timber, cattle products
2012 Timeline: Cattle Products 18
and biofuels – in their operations 2012 Timeline: Soy 20
and/or supply chains. All of these
commodities have the potential to 2012 Timeline: Palm Oil 22
be sourced from recently deforested
land. FFD goes beyond simple
2012 Timeline: Biofuels 24
disclosure and acts as a catalyst 2012 Timeline: Timber 26
for investors to really engage with
the companies in their portfolios Results of the Disclosure Request 2012: Introduction 28
on this issue. In 2012, the Forest Results of the Disclosure Request 2012: Sector Leaders 29
Footprint Disclosure Request was
sent to 450 international companies, Sector: Agricultural Products 30
100 of which responded. This
fourth Annual Review describes
Sector: Food & Staples Retailing 32
the findings of the Disclosure Sector: General Retailers 34
Request based the responses of
the 100 participating companies Sector: Industrials, Construction & Autos 36
and provides some context on Sector: Media 38
the current issues and concerns
surrounding forest risk commodities. Sector: Oil & Gas 40
Sector: Packaged Foods & Meats 42
Sector: Paper & Forest Products 44
Sector: Personal Products & Household Products 46
Sector: Textiles, Apparel & Luxury Goods 48
Sector: Travel & Leisure 50
Sector: Utilities 52
Forest Footprint Disclosure: The End and the Beginning 54
Signatories 56
Acknowledgements 59
References 60
3. Chairman’s Introduction
Andrew W. Mitchell
In June 2012, Brazil announced it spoke of their commitment to tackle
had achieved a 76% reduction in deforestation in a new way – by
its deforestation rate against 1990 cleaning up the supply chains that
levels1 - an incredible achievement drive it. And in June 2012, at the
and close to their target of an 80% Rio+20 Earth Summit, the Consumer
fall by 2020, eight years ahead of Goods Forum and US Government
schedule. In terms of tonnes of announced that they would work
carbon, this equates to a reduction together to reduce deforestation by
greater than the total achieved by promoting sustainable supply chains.
all 30 nations participating in the These are important developments
EU Emissions Trading Scheme which could, over time, rid supply
(EU ETS) over the same period2. chains of unsustainably grown ‘forest
Further, a recent calculation by risk commodities’ (beef, soy, palm
Dr Dan Nepstad of the Amazon oil, timber and biofuels), which are
Environmental Research Institute responsible for the majority of
(IPAM) has shown that, per tonne global deforestation5.
of carbon saved by preventing Andrew W. Mitchell
deforestation, climate mitigation FFD is ideally placed to help Chairman
action in Brazil was 875 times companies make this vital transition
cheaper than efforts to reduce and for them to showcase their
emissions under the EU ETS3. progress, but to do this with the whose funds can, often unwittingly,
urgency needed, FFD must scale facilitate the erosion of irreplaceable
These two facts clearly demonstrate up its action too. When the Global natural capital. The launch of the
the scale and value of the opportunity Canopy Programme, an NGO I Natural Capital Declaration6 at
offered by halting deforestation in founded in 2001, decided four years Rio+20 by the UNEP Finance
the fight against climate change. ago to launch a disclosure project Initiative, Global Canopy Programme
And for those who remain unsure for forest footprints, we were given and the Sustainability Study Center
that human-induced climate change marvellous encouragement and of the Brazilian Business School
presents a risk, the World Bank’s support from the Carbon Disclosure FGV, attracted the endorsement of
report “Turn Down the Heat – Why Project (CDP). Indeed we modeled 40 banks, investors and insurers.
a 4°C warmer world must be our project on theirs. We were This was a firm step in the right
avoided”, released at the UN Climate delighted therefore to announce direction, as was the commitment
negotiations in Doha, should make in June 2012, with the full support by the Government Pension Fund
for convincing reading4. of FFD’s principal donor, the UK of Norway- the world’s largest - to
Government, a merger between review its portfolio of investments for
But of course reducing rampant FFD and CDP. their impacts on forests from 2012.
deforestation, the ultimate purpose
of the Forest Footprint Disclosure This strategic merger will be It’s clear that as the world economy
Project (FFD), is not just about completed by February 2014, and is re-engineered financially, a quiet
carbon. It is a global imperative in the will result in the world’s largest and revolution is also underway in its
move towards more responsible and most comprehensive natural capital relationship with the natural capital
sustainable use of natural capital. disclosure system, covering the upon which the corporate and the
This underpins wealth creation in climate, water and forests. GCP will financial sector depends for their
the world economy and the security then take on a new role as principal sustainable future. It is not a
of water, energy, food and health for advisor on forests to CDP. moment too soon.
millions of people.
Over the next decade, I see the For a complete list of references,
Just before Doha, I joined a meeting exclusion of deforestation from please see page 60.
on curbing deforestation hosted by global supply chains gathering
HRH the Prince of Wales at Clarence considerable pace, led by far-sighted
House in London. At this meeting, companies. This action needs also to
ministers and business leaders be embraced by the financial sector,
5
4. Climate, forests and land use change
Dr Gillian Kay
Over the last century, the global Because of the longevity of Climate change and variability 2060s12. It is valuable to understand degradation15. In drought conditions,
average surface temperature previously-emitted GHGs in the Climate change has the potential to how climate change may affect event fires set for forest clearance burn
rose by 0.75 °C and the decade atmosphere, as well as some inertia have severe consequences for the magnitude and frequency, but the larger areas. Forest fires, drought
2000-2009 was the warmest in the within the earth system, there is world’s tropical forests. In Amazonia, extremes of today also give insight and logging increase susceptibility
observational record. Global average already a commitment to some some climate and vegetation into the functioning of the integrated to further burning while deforestation
temperature provides a consistent climate change into the future models project a shift in biome from system and may provide lessons in and smoke can inhibit rainfall, which
measure for monitoring purposes, it regardless of how emissions evolve, tropical forest to seasonal forest how to minimise impacts and improve exacerbates the heightened fire risk.
is scientifically valuable in testing the making adaptation necessary. If or savanna by the end of the 21st resilience.
response to changing greenhouse emissions continue, greater global century driven by regional climate In tropical forests, mitigation and
gases (GHGs) and has been a focal warming may be expected. There change – increases in temperature Land use change adaptation strategies can be
point for policy makers engaged in is strong impetus to understand and decreases in rainfall – in the If the threat to forests by climate unified. Reducing deforestation will
mitigation negotiations, but it remains how climates around the world may absence of direct deforestation7. change is uncertain and distant help to maintain a more resilient
a somewhat abstract quantity. respond to this, what impacts may However, it is important to note then the threat by land use change forest under drought conditions, be
While the global average response be felt and how human action may that there are large uncertainties is far more immediate and certain. they associated with a gradually
to increased concentrations of modify both the concentrations in these projections of climate The magnitude of land use change warming and drying climate, climate
greenhouse gases in the atmosphere of GHGs and their impacts. change, particularly in rainfall. Some is unknown, but detailed scenarios variability, or local changes brought
is a rise in temperature, regional and Increasingly, these questions are Dr Gillian Kay models produce smaller reductions of land use change have been about by land use change.
local responses to the warming are being explored at local to regional Met Office Hadley Centre, UK
likely to be much more complex. scales, or in relation to specific For a complete list of references,
sectors such as agriculture “The most pessimistic of these scenarios bring please see page 60.
Recent extreme events such as or industry. global anthropogenic emissions4.
droughts, severe storms and heat Moreover, less forest equates reductions in forest cover of around 40% by the
waves have focused attention
on some of the profound and far
Forests in the climate system
As the recent droughts have shown,
to a reduced carbon sink, thus
further enhancing atmospheric
middle of this century.”
reaching impacts that weather and climate has influence over forest concentrations of GHGs.
climate can have upon natural and health and ecosystem functioning. in the region, while others project developed, based on factors such
human systems. For example, However, this is not a unidirectional Forests also interact with the increases8. In addition, processes as plans for road building and
the heat wave in Russia in 2010 process and it is well established atmosphere to influence the regional such as CO2 fertilization may be very adherence to limits set through
had severe impacts on mortality that forests affect the climate water cycle. In Amazonia, the important but are not well enough policy decisions. The most
rates and reduced crop yield by system through direct and indirect moisture is transported in from the understood, particularly for tropical pessimistic of these scenarios bring
~25%1, with consequences for the mechanisms. Atlantic Ocean, where it rains and regions. Some experiments have reductions in forest cover of around
Russian economy and global grain then is returned to the air by the shown that increasing concentrations 40% by the middle of this century13.
prices. The droughts in Amazonia in At the largest, global scale is the role forest through evapotranspiration. of atmospheric CO2 are beneficial
2005/2010, among other impacts, they play in the terrestrial carbon As much as 50% of the basin’s to forest productivity, but these Deforestation, climate and fire
degraded the forest, facilitated the cycle through the sequestration rainfall is recycled by the forests5. benefits are eventually overridden The effects of land use change
spread of fire and dried up rivers – and storage of carbon3. The Some research has suggested that by the negative effects of the climate may be compounded because a
the transport network of the region clearing of forests and associated if around 40% of the Amazon is changes9. broken forest is more vulnerable
cleared, it will be unable to generate to ‘edge effects’ such as strong
enough rainfall to sustain itself, Climate varies naturally on a number winds, and especially forest fires14.
“Recent extreme events such as droughts, severe storms leading to a positive feedback loop
of more forest loss and less rainfall6.
of time scales and so ‘extremes’ are
naturally occurring events. However,
Climate change or variability acting
on a region already fragmented
and heat waves have focused attention on some of the a growing body of research has found by deforestation could have larger
There is a range of drivers of that the risk of extremes has already effects than on continuous forest.
profound and far reaching impacts that weather and change acting upon the tropical been increased by climate change10,
climate can have upon natural and human systems.” forest ecosystems and hence
upon the ecosystem services they
and is likely to continue in the
future11. Droughts in Amazonia tend
Forest fragmentation opens up
the forest to points of ignition, the
generate. Climate and land use to be related to tropical Pacific and majority of which are supplied by
change place stress upon the Atlantic Ocean temperatures. One human activity. If the conditions in
– which had many implications land use change emits GHGs forests, and synergies between study estimated that the probability of these regions become more suitable
for populations and businesses into the atmosphere, and recent these stressors have the potential to an Atlantic-related drought like that of for fire ignition and spread, then fire
supported by the functioning of the estimates are that deforestation drive greater changes. 2005 will increase from a 1-in-20 year has the potential to play a potent
forest ecosystem2. accounts for approximately 15% of event to a 9-in-10 year event by the role in further deforestation and
6 7
5. Food Security
Prof Richard Tiffin and Dr Adam Webb
The increased attention that is quantities of food are available on the route to ensuring food security. Investment in a range of areas, from
given to food security is commonly a consistent basis, food access is This demands a careful appraisal smart agriculture to land restoration
attributed to the dramatic increases delivered when individuals have of the available options in order to systems and new methods of
in food commodity prices which sufficient resources to obtain identify those where the benefits of food production, is required to
were experienced in 2008: appropriate foods for a nutritious increased food production are not meet these challenges in the
according to the FAO food price diet, and food use recognises that achieved at a greater cost in terms future. However, such investments
index, in 2008, commodity prices ensuring energy and nutrient intakes of the delivery of other must draw upon expertise from
were more than double their are adequate depends in part on ecosystem services. a range of backgrounds ranging
average level over the period from factors such as feeding and cooking from biology to social sciences.
2002-2004. Whilst prices reverted practices as well as the way in which While GHG emissions and loss of Structures to pull together such
to lower levels in 2009, subsequent food is allocated between individuals ecosystem services are key things expertise and make it available to
increases have seen them return in a household. to address for food security, there other organisations are currently
to 2008 levels. The reasons behind
these increases are debated and The fact that the world’s population
include factors such as stocks is predicted to exceed nine billion “Investment in a range of areas from smart agriculture,
being at historically low levels and in 2050 is well known, but it is
drought in major grain producing important to recognise this growth Prof Richard Tiffin Dr Adam Webb to land restoration systems and new methods of
areas. Whilst the debate around the
factors which cause particular food
is not uniform across regions or
between the urban and rural sectors.
Director
Centre for Food Security
Research and Enterprise Manager
Centre for Food Security
food production, is required to meet
price spikes might be unresolved, The most significant demographic University of Reading University of Reading these challenges in the future.”
what is now widely accepted is change over the next forty years is
that the “perfect storm” famously predicted to be a major shift from
identified by the UK government rural to urban populations in the less feed for livestock. As land is already drawbacks. While deforestation is a are also other areas that need to be being developed and should be
chief scientist, John Beddington, developed countries. As populations scarce - in areas where agriculture key component of GHG emissions considered. As has been discussed, commended. This will ensure that
will threaten the ability of the planet become more urbanised the is a realistic proposition, the rate of related to food security, it is not food security is not only about food the latest and most comprehensive
to feed its population as we move composition of the diet is expected land use is at least 70% - this can the sole emitter of GHGs in this availability but also food access information is accessible when
through the twenty first century. to change. Evidence of this is lead to deforestation, the loss of area; agricultural production itself and ensuring that people’s diet is making investments, and will further
The perfect storm describes already becoming apparent in FAO natural habitats, and an increase in contributes to the emissions of healthy and nutritious. The tendency help to guarantee that the economic
the combination of increasing food supply data for China, which greenhouse gas (GHG) emissions, greenhouse gases (GHG). For for societies to become more and social considerations for food
population, increasing competition indicate that cereal consumption has currently estimated to be more than example, the Intergovernmental urbanised is generally associated security are met at the same time
for energy and water resources and been more-or-less static since the one billion tonnes annually from land Panel on Climate Change (IPCC) with a change in diet that has been as the science and technology
climate change. (2009) estimate that agriculture termed ‘the nutrition transition’. This considerations.
accounts for 10-12% of total global highlights the fact that guaranteeing
Whilst increasing food production “[Food security is] when all people at all times have anthropogenic GHG emissions. nutritious food for a healthy life is
needs to be part of the response to
the perfect storm, modern definitions
access to sufficient, healthy safe, nutritious food These include nitrous oxide (45%),
which stems largely from the
not confined to avoiding malnutrition
but in some cases will increasingly
of food security rightly emphasise to maintain a healthy and active life.” application of synthetic fertiliser, be concerned with what might be
that simply producing enough food methane (54%), from enteric termed over-nutrition. When it is also
for everyone is only part of the fermentation and manure and recognised that many of the health
challenge. The definition which has early nineties but at the same time use changes. This fact, together carbon dioxide (0.6%) from energy related problems in the developing
been most widely accepted since meat consumption has increased, with the increasing pressure from use. As a result it is increasingly world are already associated with
it was proposed at the World Food rising from 30.2 kg/capita/yr in 1992 alternative land uses, means that recognised that traditional methods the quality of the diet, for example
Summit in 1996 is: to 58.2 kg/capita/yr in 2009. While a there is little or no prospect of to increase food production from vitamin A deficiency is widespread
“when all people at all times shift towards an urbanised diet is not increasing the amount of land that is existing land may not be ideal in many parts of the world, the
have access to sufficient, healthy necessarily detrimental, increased available for food production. This in in the future. This conclusion is complexity of ensuring the fact that
safe, nutritious food to maintain a meat consumption can lead to turn means that we will only be able strengthened when it is recognised food security extends way beyond
healthy and active life” several negative consequences that to feed the growing population by that a lot of the intensification in food just providing sufficient food
which leads to the identification must be addressed. Increases in using the existing agricultural land production that has occurred in the is apparent.
of the three dimensions of food beef consumption have resulted in more intensively. past has come at the expense of the
security: food availability, food an increased need for more grazing wider ecosystem. This has led to the It is therefore clear that addressing
access and food use. Food land, as well as more land for the However, intensive use of existing concept of sustainable intensification the food security challenge is
availability requires that sufficient production of soy, a widespread agricultural land also has its being increasingly emphasised as a multifaceted undertaking.
8 9
6. If we halt deforestation, will the world starve?
Dr Sonja Vermeulen
Making sure that we will continue to yet another 5%, meaning that food does not have much impact either in worldwide GDP over the same
have enough to eat is at the heart production releases as much as on how much people eat or on period. For wealthier households,
of our shared ambitions to mitigate 29% of our global emissions. Plainly the balance of plant and animal this translates into a falling share of
climate change. The United Nations we cannot make any serious dent in products in their diets. income spent on food. But poorer
Framework Convention on Climate our emissions without the agriculture households in poorer regions do
Change (UNFCCC), the convention and food sectors doing their share. The second study, by Alla Golub and not reap the benefits. For them,
that has guided us through the highs And much of that share must be colleagues, paints a slightly more food expenditure takes up an ever
and lows of 18 rounds of annual through reducing deforestation. complex picture. These authors greater portion of household income.
negotiations, states upfront that model the impacts of a global
the reasons to stabilise emissions What does that mean for food carbon tax, roughly equivalent What conclusions can we draw from
are threefold: “to allow ecosystems security, both now and for the future to a universal carbon market, as these studies about how reducing
to adapt naturally”, “to enable nine billion? Let’s dub this the Kyoto payments go to providers of the deforestation might affect hunger?
economic development to proceed conundrum: if we don’t mitigate in
in a sustainable manner” and “to the agricultural sector, including “We cannot make any serious dent in
ensure that food production is putting a brake on agriculture’s
not threatened”. At the same time huge contribution to deforestation, our emissions without the agriculture and food
we hear again and again that no then future food production will Dr Sonja Vermeulen
reductions in emissions can possibly be threatened and there will be Head of Research sectors doing their share.”
be expected from agriculture – massive food price hikes; but if we CGIAR Research Program on Climate
otherwise how could we grow do mitigate in the agricultural sector, Change, Agriculture and Food Security carbon credits. They investigate Models are only as good as their
enough to feed nine billion agricultural production will become different scenarios that allow assumptions, so we should look for
people in 2050? much more expensive and there will exemptions or rebates for poorer qualitative generalisations rather
be massive food price hikes. There causality in the other direction: if countries. The first message is than firm numerical predictions. All
Science tells us that agricultural are no wins here. It is a lose-lose we avoid deforestation, are there that exemptions lead to leakage: three point to a minimal impact on
practices directly emit 5,100 to conundrum, and one in which poor impacts on food prices? For a start, deforestation that would have the affordability of food for more
6,100 megatonnes of carbon people, who are most susceptible to the soy moratorium in Brazil offers happened in one country is simply affluent consumers. Those who
dioxide equivalent (Mt CO2e) per deficiencies in calories and nutrition, a real-life example of how reduced shifted elsewhere. If there is a truly are likely to feel the pinch are the
year – which is 10-12% of total and who spend the greatest deforestation is not correlated with global carbon tax at a price high consumers at the “bottom of the
global emissions. But agriculture proportions of their incomes on food, commodity prices. Some further enough to eliminate deforestation, pyramid”, who already struggle in
also drives deforestation; current lose the most. interesting insights come from the impacts on incomes and food many cases to eat well, in terms of
estimates are that about 80% of three recent studies that tackle this consumption are generally positive both nutrition and pleasure.
deforestation is due to agriculture. But does this doomed Catch-22 question via thought experiments, for land-owning households, who
The size of these indirect stand up to closer scientific scrutiny? using computer models to play out can gain both from carbon prices This is by no means a valid excuse
agricultural emissions is uncertain, More specifically, what do we know different policy scenarios at the and from farm product prices. On for arguing that deforestation
global level. the other hand, food consumption should continue unabated in
“The reasons to stabilise emissions are threefold: among the large and growing order to reduce food prices for the
The first, by Uwe Schneider number of landless, unskilled labour poor. The solution must be found
to allow ecosystems to adapt naturally, and colleagues, looks at four households of the world deteriorates. rather in providing the economic
to enable economic development to proceed different future scenarios for
global development, which include The third thought experiment is
opportunities for poorer consumers
to achieve better incomes and
in a sustainable manner, and to ensure that restrictions on deforestation. The the most troubling at first sight. By access better diets. Both the public
main finding here is that constraints John Reilly and colleagues, it again and private sectors have abundant
food production is not threatened.” on deforestation drive up the considers multiple scenarios, one of scope to act positively, from creating
prices of water resources and land, which is the same as Golub’s global job opportunities at decent wages
but may well be as much again about the relationships between but actually have little impact on carbon tax on all sectors, including to providing “safety nets” such
as direct emissions, doubling deforestation and food security? global food production, or on food both energy and land-use. Food as health insurance and income
agricultural emissions to a total of Historically, experience shows prices. This is because changes prices under this scenario rise by support for the needy. Hand in hand,
12,700 Mt CO2e, or 24% of total that rising prices of agricultural in land use, land management 80% by 2100 compared to a “no social and environmental innovation
global emissions annually. The food commodities do in general and international trade are able to policy” world, due both to the direct can provide a world with forests –
chain – processing, refrigeration, increase rates of deforestation, by compensate for the price effects costs of mitigating emissions and and without hunger.
transport, retail, use of food in the magnifying incentives for expansion of avoided deforestation. In this to the rising costs of land. This bad
home and waste disposal – adds of farmland. The trickier question is thought experiment, deforestation news is offset by a fivefold increase
10 11
7. How are governments addressing deforestation at the international level?
Dr Nathalie Walker
The growing global population, diet set up. At its 2007 meeting in Bali,
shifts and economic development the UNFCCC Conference of the
are increasing demand for Parties (COP) agreed on the “Bali
products sourced from forests, Action Plan”, which calls for “policy
and for agricultural products which approaches and positive incentives
are driving forest clearance1. on issues relating to reducing
Export markets are becoming emissions from deforestation and
increasingly important as drivers of forest degradation in developing
deforestation2. Successfully tackling countries” to be addressed4.
these drivers, while encouraging
deforestation-free production, Since 2007, there has been a
needs action from both the private plan of work to design technical
sector, which produces and trades rules through which “Reducing
forest risk commodities, and from Emissions from Deforestation
governments of producer and and Forest Degradation” (REDD) forests that results in greenhouse which are supporting “REDD-
consumer countries3. Multinational can be incorporated into a new gas emissions, including actions to readiness” among many forest-rich
companies are well placed to international climate treaty under Dr Nathalie Walker address drivers of deforestation”, nations. Individual countries have
act at the international level, but the UNFCCC. Subsidiary bodies Forest Footprint Disclosure but no details were provided on also provided support, most notably
for governments, international hold meetings throughout the year how to do this5. In early 2012, Norway, which has pledged one
agreements are proving more to tackle the scientific, technical and Parties and Observers to the billion dollars to both Brazil and
challenging and consensus can take implementation issues that will form because there was no agreement Convention were requested to Indonesia to reduce their national
years to reach. the basis for such a treaty, which is on the issues under negotiation - submit guidance on how to address deforestation rates and is also
planned to be agreed in 2015. forest monitoring and verification drivers of deforestation. A number supporting other countries
There are several international of emissions reductions - and of countries, including Costa Rica, including Guyana.
forums which address forests The REDD negotiations have made more time will be given to them in the Democratic Republic of Congo,
and forest risk commodities, steady progress each year since upcoming sessions. Norway, Papua New Guinea, A number of governments have
most notably the United Nations 2007 on many technical aspects. Switzerland and the United States announced their intention to work
Framework Convention on Climate The COP and its subsidiary bodies One of the ongoing issues pointed to the role that the private with the private sector to address
Change (UNFCCC). The UNFCCC, operate on consensus, which means being considered under the sector can play in addressing the drivers of deforestation. In
which currently has 195 participating that, despite negotiations that often UNFCCC concerns the drivers key drivers6. Suggestions include June 2012 at the Rio+20 Earth
countries, is one of three Rio run throughout the night during the of deforestation. In the Cancun making links with private sector Summit, the US Government and
Conventions established following two-week long COP, they can run Agreements negotiated at the initiatives to address deforestation Consumer Goods Forum announced
the 1992 Rio Earth Summit. The out of time to reach agreement. COP in 2010, all countries were (such as the Consumer Goods that they would work together to
role that protecting forests plays 2012 was the first year in which encouraged “to find effective ways Forum’s Zero Net Deforestation reduce deforestation by promoting
in mitigating climate change is there was no progress on REDD, to reduce the human pressure on commitment), promoting certification sustainable supply chains7. In
explained by Dr Gillian Kay on systems and inviting the private November 2012, the governments
page 6 and the UNFCCC is a key sector to attend workshops. There of Australia, Germany, Norway, the
mechanism that offers opportunities are concerns that measures to United Kingdom and United States
to catalyse increased financing, and address the international drivers of released a joint statement on the
collaborative actions to deforestation could impact trade in urgency of tackling deforestation
reduce deforestation. timber and agricultural commodities. and resolved to “support efforts
These concerns and the above to transform the supply chains of
In 2005, the governments of several recommendations will be considered the commodities that put pressure
forest-rich countries, including over the coming year. on the forest”, stating that they
Papua New Guinea and Costa Rica, “welcome the commitments and
formally requested that, for the first While a new international climate initiative of the Consumer Goods
time, the UNFCCC incorporate treaty which incorporates REDD Forum in this regard, and stand
ways to stimulate action to reduce is years away, many countries are ready to contribute in various
emissions from deforestation. With taking action now. There are already ways”8. The challenge now is how to
broad recognition that deforestation international mechanisms which turn this support into effective action,
is a major source of greenhouse currently provide funds for REDD, so that public and private initiatives
gas emissions, a working group was including the UN-REDD Programme, can work together synergistically.
12 13
8. The Journey
Christoph Harwood
As the planet comes under intense access to medicine debate was the economic drivers behind the of its journey. Whilst NGOs are vocal CDP has demonstrated that
pressure from the ever-increasing game changing. commodities taken from the forests: and have had success with moving reporting on CO2 is not a burden
demand of mankind, from time to • Impact of the “lending” banks - timber, including pulp and paper, companies towards using paper and and adds value, so much so that the
time an area of concern is identified. the finance sector does try to be UK government has now mandated
Initially a scientist or NGO tries ahead of regulation, often led it for all listed companies. One day
to share their concerns. Later by SRI teams. However, it is the “It is clear that deforestation is still at an early stage companies will also be mandated
somebody in the finance sector - an lending banks that have more on reporting how they manage their
analyst, investor or fund manager impact than the asset owners of its journey. Whilst NGOs are vocal and have had exposure to deforestation and other
- might recognise that there are
financial implications. Finally,
and managers.
success with moving companies towards using natural capital risks. FFD disclosers
will demonstrate that this is not a
legislation leads to the problem All this can take a long time. Climate paper and other commodities from sustainable heavy burden. In the meantime,
being removed or correctly priced. change was first raised as an issue raising the need for resilience as
This is when the “externality” has in the 1950s, the IPCC was set up sources, the opportunity for regulation is resisted by well as sustainability in the supply
become “internalised”, moving
from a theoretical P&L to directly
in 1988 and here we are in 2013
wondering whether Kyoto
companies on the ground and recognition of material chain, working with buyers of forest
risk commodities and helping the
impacting company valuations. That will survive. impact seems to be further down the road.” lending banks reduce their exposure
process - from identification of an Christoph Harwood to deforestation, can all help in The
environmental issue to financial A lot has to happen for The Journey Partner at Marksman Consulting and Journey ahead.
impact - is what we are calling to be complete and very few have Investment Relations for FFD (2009-2013) biomass and charcoal for steel other commodities from sustainable
The Journey. made it to the end. We identified making, or commodities produced sources, the opportunity for
seven stages: on purposely deforested land: soy, regulation is resisted by companies
To understand this in detail, we palm oil and cattle. It is a complex on the ground and recognition of
looked at four case studies - CO2 1. An issue is identified by a Different parts of the finance sector world requiring international material impact seems to be further
emissions, REACH chemicals, scientist or NGO. will take an interest in these issues agreements, where there is no down the road.
access to medicine, and mountain 2. A large NGO takes up the issue, at different stages. The SRI world one international body focusing on
top removal - to understand their perhaps taking it on from a usually identifies issues early on, forests and so they have to come The research into the Journey,
Journeys and what this means for smaller specialist NGO. whilst the mainstream requires under the umbrella of other bodies however, did open up some new
deforestation. Out of this work came 3. Industry pushes back, although more certainty on valuation impacts. such as UNFCCC or CBD. ideas into how FFD might increase
four key lessons: some, well placed for changes, There might be some interest the pace.
encourage the new ideas. during the lobbying stages, but it There are a few areas for optimism.
• Expect the unexpected – 4. Government begins to draw up is only when regulation is enforced FLEGT and the Lacey Act make it Firstly, FFD can help investors
industry experts and finance policy. It can formulate this in that valuations are affected. With illegal to import timber into the EU understand the resilience of
analysts reviewed the carbon a number of ways: by putting less than 10% of funds invested and USA respectively if it has been commodity supply chains. Secondly,
price and the European a price on the externality or sustainably and with nearly 40%
Emission Trading System rationing its availability so that of the UK market in passive
when it was introduced, but it the market sets the price, by investments, there is only so “FFD can help investors understand the
was actually regulations and
subsidies that had more impact.
supporting alternatives, by
changing the market’s buying
much that can be done by asset
managers.
resilience of commodity supply chains.”
The growth in renewables has requirements, or by just
been more important than the regulating. It is clear that corporates see a illegally produced in another country. as part of CDP, FFD can use their
trading price of CO2. 5. Industry at this stage intensifies limited role for the finance sector Dutch and British governments are supply chain experience to influence
• Don’t expect consistency from its lobbying, publicly and behind in their progress to becoming pushing for the use of sustainable CO2 usage, working with existing
the affected industries - they doors. Some support the more sustainable. Nike positions palm oil and the SRI finance sector and new disclosing corporates so
tell governments that the costs changes, others do not. the sector in its “Road to Zero is taking increased interest, with they demand that sustainable forest
will undermine their ability to 6. Regulation is applied which can System Map” as merely a provider broker reports beginning to touch risk commodities are integrated into
operate, but tell investors not be locally driven or catalysed by of capital. Companies trying to on deforestation. Proxy resolutions their supply chains. Finally, FFD
to worry. Some, ahead of the international agreement. deliver sustainability strategies in the USA are encouraging can encourage banks to recognise
game, welcome the change 7. Regulations are enforced, or echo this, advising that they do not companies to improve their policies their risks in lending to companies
whilst those caught out resist not. One of the interesting get questions from analysts on the and disclose to FFD. involved in deforestation and the
change. developments is the creation sustainability of their operations. damage that they are doing.
• Politics matters – Nelson and enforcement of regulations So where are we in the deforestation However, it is clear that
Mandela’s intervention in the in one country on another. journey? It is complex, given deforestation is still at an early stage
14 15
9. 2012 Timelines
Introduction
Extreme weather events across the announcements were made by soybean production has increased
world in 2012 resulted in the worst global corporations, for example while annual deforestation in the
global harvest in years, depleting Unilever, who reached its target of Amazon has fallen to record lows.
food reserves and contributing to 100% certified sustainable palm
a hike in global food prices and oil ahead of schedule (covered by The palm oil industry’s growing
prompting renewed debate over the GreenPalm Certificates) and set a demand for large tracts of land
‘food vs. fuel’ dilemma. In August, new target for 2020 to buy all their – notably forest areas in African
the UN Food and Agriculture palm oil from traceable sources. countries – has led to rising concern
Organization (FAO) called for the Despite criticism over the strength over the environmental impacts of
suspension of US ethanol quotas in of the agreements coming out of unsustainable production and the
response to the impact of the worst Rio+20 and the UNCCC in Doha, social impacts resulting from
US droughts in more than half a number of corporate pledges land grabs.
a century. and strategic partnerships were
announced. The governments of 2012 also saw the formation of the
Legislative progress continued in Australia, Germany, Norway, the Global Roundtable on Sustainable
2012 with the Australian Senate UK and the US resolved to support Beef (GRSB).
passing the Illegal Logging efforts to tackle deforestation
Prohibition Bill, joining the United of supply chains of forest risk Overall, 2012 has seen some
States and European Union in commodities. Although there has progress towards sustainable and
action against the global trade in been some significant progress traceable forest risk commodities.
illegal timber. In Europe, application on the corporate sustainability Despite this, the demand for
of the EU Timber Regulation begins landscape in 2012, some companies many of the certified sustainable
in March 2013 and companies found themselves at the centre commodities has as yet failed to
involved in the trade of timber of negative NGO campaigns, keep pace with production. FFD
products are gearing up for the especially in the pulp and hopes that 2013 will see the uptake
2013 deadline. paper sector. of more certified sustainable product
in companies’ supply chains and the
Certification, while not the endgame Commodity news highlights beginning of a real shift from future
in itself for preventing deforestation, in 2012 targets to immediate action on the
does play an important role in issue of deforestation risk.
the journey towards sustainably For biofuels, the big news story
produced commodities and 2012 of 2012 was the European
saw some advances in this area. For Commission’s proposed changes
example, sustainability standards for to the EU’s Renewable Energy
cattle products – beef and leather, Directive (RED), which will limit the
which have traditionally lagged use of crop-based biofuels to 5% of
behind the other commodities total EU transport energy by 2020,
- advanced in 2012 with the reflecting significant and growing
certification of the first ranches concerns from scientific evidence
under the Sustainable Agriculture which indicates that emissions from
Network (SAN) standards in indirect land-use change can vary
the Brazilian Amazon. In the substantially between feedstocks
biofuels sector, the Roundtable and can negate the greenhouse gas
for Sustainable Biofuels (RSB) savings of biofuels compared to the
agreed to recognise farm operations fossil fuels they replace.
certified by the SAN standards and
FSC-certified biomass. The Soy Moratorium on
deforestation in soybean production
Corporate activity to combat in the Brazilian Amazon biome,
deforestation continued in was extended until January 1st
2012. A number of sustainability 2014. Since its introduction in 2006,
17
10. 2012 Timeline
Cattle Products
JANUARY APRIL Greenpeace published the ‘JBS SEPTEMBER OCTOBER
Scorecard Failed’ report, claiming
Analysts reported that JBS was on A high-level consultation for a that JBS continues to purchase Richard Sheane of Best The GRSB Executive Board
the takeover trail, with rumours of Global Livestock Agenda for cattle from Brazilian ranches that Foot Forward challenged the meeting was held in Florida to
interest in Goias Verde Alimentos. 2020, co-hosted by the World clear rainforest areas, occupy environmental benefits of banning further develop understanding
The company denied the rumours, Bank and International Livestock indigenous lands and use slave the use of leather by Puma of sustainable practices in the
stating its ambitions to increase its Research Institute (ILRI), was labour, in spite of earlier agreements and substitution by non-natural beef industry though interaction,
presence in Brazil’s dairy market held in Nairobi, Kenya. The main not to do so. materials, given the leather industry discussion and observation of
instead, which it sees as offering outcome was a joint communiqué is generally a by-product of the in-field projects. Beef producers,
significant new opportunities. by eight international and regional JUNE meat industry. With leather de processors, retailers and others in
organisations to form an alliance facto an agricultural by-product, he the beef industry attended the event,
FEBRUARY to develop and implement a global Tesco confirmed it had cancelled argued it is better to use leather which showcased the ability of
agenda to improve environmental its contract with JBS in response than to waste materials, water and cattle ranchers in central Florida to
The Global Roundtable for protection, human health and social to earlier Greenpeace claims that energy elsewhere if we are going to partner with public water agencies in
Sustainable Beef (GRSB) was equity in the livestock sector. beef sold in the supermarket could continue to eat meat globally in such developing sustainable practices.
formed. Founding members be traced back to cattle raised on large quantities.
include AllFlex, Aliança da Terra, MAY illegally deforested areas of the
Cargill, Elanco, GTPS (Grupo de Amazon. Meanwhile, Greenpeace
Trabalho da Pecuaria Sustentavel), Four ranches in Mato Grosso, Brazil removed the ‘JBS Scorecard’ report
JBS, McDonald’s, Merck became the first globally to earn from its website after JBS took out
Animal Health, National Wildlife Rainforest Alliance certification a legal injunction, but the NGO
Federation, Rainforest Alliance, for sustainable cattle production. stated it was standing by the original
Roundtable for Sustainable Beef The ranches, which all belong to conclusions of the report.
Australia, Solidaridad, The Nature the group Fazendas São Marcelo
Conservancy, Wal-Mart and WWF. Ltda., cover a total area of 32,000 JULY
hectares, including a 13,000
The Dutch Ministry of Foreign hectare reserve in the Amazon. Chief executive of sportswear brand
Affairs committed two million Euros About 60,000 cattle graze on the Puma, Jochen Zeitz, announced
in financial support to GRSB. ranches’ sustainably managed that future plans will include
The funding will support producer pastures. The standards, developed stopping using leather in its footwear
sustainability initiatives in the beef by the Sustainable Agriculture and football boots because it is
supply chain, and it will be focused Network (SAN) in response to so damaging to the environment.
on activity in developing countries. rainforest destruction resulting Speaking to the Financial Times
from cattle farming, promote the at the UN Rio+20 earth summit,
MARCH humane treatment of livestock, the Jochen Zeitz said that the company
conservation of natural resources would have to look at alternative
A new academic study from and the rights and well-being of materials to meet its environmental
Bowman et al. (2012), suggested workers. IMAFLORA, the SAN policy commitments.
that pro-intensification policies representative in Brazil, carried
in the Brazilian livestock sector out the certification. IMAFLORA
will only halt deforestation if they promotes the cattle certification
are accompanied by actions to programme in Brazil in collaboration
remove the incentives to clear with other local NGOs (including
forest for pasture, which discourage Amigos de Terra), government
land speculation and increase agencies and international NGOs,
accountability for land including the US-based National
management practices. Wildlife Federation (NWF).
18 19
11. 2012 Timeline
Soy
JANUARY MAY It was argued that the outcomes supply chain will benefit from reduced AUGUST OCTOBER
of soy and oil palm expansion are costs and the possibility of multiple
In late December 2011, NGOs The seventh annual international still under debate, and the authors certifications, although the Chain of Soy prices reached a record high of The Brazilian Soy Moratorium, an
and all Dutch trade sectors in conference of the RTRS (RT7) was recommended a more detailed Custody implications need $622/ton, following a drought in the agreement between the Brazilian
the value chain for soy created a held in London, UK, the first to take analysis to devise pathways that can further work. US Midwest. Association of Vegetable Oil
Soy Initiative to transition toward place in a European country. The improve distribution of social and Industries (ABIOVE), the Brazilian
responsible soy, supported by seven conference, themed ‘Next Steps economic benefits while at the same In Curuguaty, Paraguay, six police Solidaridad announced their intention National Association of Grain
million Euros of investment shared for Responsible Soy’, was aimed time reducing carbon emissions. officers and 11 farmers were killed to start working with large soy farms Exporters (ANEC), Greenpeace
50:50 by industry and the Dutch at emphasising the need for RTRS when clashes broke out during in China towards the first responsibly and other civil society organisations
government-funded Sustainable to evolve into the mainstream A Nature Conservancy Report on the forced eviction of peasants produced soy in China. The project, to eliminate deforestation in the
Trade Initiative (IDH). This money standard for responsible soy. Brazilian sustainable soy, “Soybeans: occupying a disputed soy farm. One approved under the Farmer Support production chain, was extended
will be invested to enable growers Commitments were made by EU and good agricultural practices and socio- week later, the Paraguayan Senate Programme, aims to demonstrate until January 1st 2014. In 2006,
in South America, as well as other UK supermarkets, including Marks & environmental certification – Towards ousted President Fernando Lugo for the benefits of responsible soy to these industry groups agreed not
supply chain parties, to implement the Spencer, Waitrose, Sainsbury’s, Asda, Sustainability”, outlined 35 separate “mismanagement” of the land conflict. the industry, relevant ministries, soy to buy soy from any farms with new
necessary improvements for achieving Co-operative Food, Ahold, Coop and initiatives and projects as examples processing companies and industry deforestation in the Brazilian Amazon
Roundtable on Responsible Soy Migros to source certified responsible of progress, most of which were JULY farmers. It will start working with two biome. Throughout these years
(RTRS) certification. soy for own brand products. The instigated by Brazilian companies. large soy farms that cover a total area soybean production increased, and is
state-linked Chinese Soybean The first Indian smallholders to be of 50,000 ha of soy and employ still rising, while annual deforestation
An academic study by Macedo et al. Industry Association (CSIA) also JUNE certified for Responsible Soy by the 3,000 workers. in the Amazon fell by record numbers,
(2012) found that between 2006 and announced its intention to work with RTRS were announced, a result highlighting the importance of the
2010, while agricultural production, its 750 member organisations towards KPMG stated that there is a business of investments made by the Dutch SEPTEMBER agreement. The identification of soy
including soy, was higher than ever, meeting the RTRS standards. It was case for soy producers in Brazil Cheese maker, CONO, and the dairy on newly cleared land in the Amazon
there was a decline in Amazon confirmed that almost 300,000 tonnes and Argentina to comply with the cooperative, Friesland Campina. A European Soy event “Challenges biome and a change in Brazil’s Forest
deforestation in the Brazilian state of RTRS certified soy have been RTRS criteria for responsible soy Friesland Campina support a number and opportunities for supermarkets” Code were cited as reasons for the
of Mato Grosso. This appears to sold since June 2011, when RTRS farming. Commissioned by IDH, in of soy farm programmes in Brazil was hosted in Zurich, Switzerland by need to extend the moratorium for
demonstrate that strong market announced an annual target of five collaboration with the International and India, and CONO participated in the Soy Network Switzerland. Led by another year.
and government policies to prevent million tonnes of responsible soy to be Finance Corporation (IFC), WWF the Soy Producer Support Initiative supermarkets Coop and Migros and
deforestation do not need to negatively produced and sold by 2015. and the Netherlands Development (SOYPSI), an international program supported by the Swiss government DECEMBER
impact agricultural productivity. Institution FMO, their report showed for environmentally friendly institution for international cooperation
The impact of the expansion of The first 10 audit reports of soy that medium and large producers soy cultivation. (SECO), the event was attended by More than twice the volume and area
neighbouring areas is hotly debated. companies certified by the RTRS can expect a positive return on a variety of participants from sectors of RTRS certified soy was produced
were reviewed by GM Freeze, their compliance investments after A report ‘Factory-Fed Fish’, from involved in soy. One of the main in 2012 compared with 2011, and
APRIL Friends of the Earth and Corporate three years. Concerns were raised, US-based Food and Water Watch, conclusions of the meeting was the the number of certified producers
Europe Observatory who claimed however, that the initial investment highlighted the use of soy in fish feed need for a joint action plan in order to increased from 10 to 19.
Soybean yields are particularly that the certification standards have was too high for small producers and stocks and links to the American transform the market.
vulnerable to weather. In Latin failed to achieve any significant external investment may be required. Soy Association and agribusiness
American countries, all of whom social or environmental benefit, with giants Cargill and Monsanto in the
depend on commodity exports no evidence of protection against Independent body GMP+ International development of offshore fish
for significant parts of their export deforestation, reduced use of and RTRS agreed on the main farming legislation.
earnings, extreme weather conditions pesticides, or any benefits being felt points of co-operation regarding the
were experienced throughout by small farmers in the areas certified. certification of the supply chain of
2012, which upset crop production responsible soy. RTRS will link to
and depressed potential yields. In A report by Pacheco (2012) an already internationally operating
Argentina, heavy rains delayed of the trends associated with GMP+ Feed Safety Assurance
soybean planting, raising concerns commercial agricultural expansion Scheme, with over 11,800 certified
for future production. In contrast, Rio in South America by the Centre for companies in 65 countries, making
Grande de Sul in Brazil suffered from International Forestry Research it easier to distribute RTRS soy to
a lack of rain which impacted soybean (CIFOR) highlighted the association consumers through a controlled
production. In a season marked by of soybean and palm oil expansion supply chain, while GMP+ will gain
crop losses, drought conditions were with food, feed and biofuel markets, links to an international scheme based
reflected in the low productivity of focusing on their economic, social on multi-stakeholder support. Most
soybean crops. and environmental implications. importantly, feed companies in the
20 21
12. 2012 Timeline
Palm Oil
JANUARY APRIL OCTOBER NOVEMBER are around development on peat and
Unilever, the world’s largest single clearance of high carbon forested
The President of Liberia, Ellen The Roundtable on Sustainable purchaser of palm oil, announced it An academic study by Kimberly et The French Senate approved a areas. A group of leading scientists
Johnson Sirleaf, intervened to end Palm Oil (RSPO) signed a is ahead of schedule with regards to al. (2012) reported that the carbon 300% ‘fat tax’ on palm oil. The called for measures to ensure the
a long standing dispute between Memorandum of Understanding its palm oil targets with 90% of the emissions impacts of the palm oil proposal was made on the grounds safety of high conservation forests
the citizens of Grand Cape Mount with PT Perkebunan Nusantara palm oil in its products covered by industry in Indonesia alone could of health, as palm oil is high in and peatlands. These issues are
County and the palm oil company III Persero, an Indonesian oil GreenPalm certificates, the RSPO’s reach 558 million metric tons of CO2 saturated fats, as well as the critical to the credibility of RSPO
Sime Darby Plantations Liberia. palm plantation company, and off-setting scheme. In light of its by 2020 – more than the national environmental issues associated if certified palm oil is to be truly
This dispute is not isolated, as palm the Sustainable Trade Initiative progress to date, and in recognition emissions of Canada. Emissions with some of its production, including sustainable and no longer lead to
oil plantations are becoming more (IDH), a Dutch initiative working that certificates are not the same arise from land conversion, both from biodiversity loss and contribution destruction of high value habitat,
common in West Africa and conflict on sustainable commodities to as using physical CSPO (Certified deforestation and conversion of peat- to climate change. The aim was contributing to dangerous
over FPIC (Free and Prior Informed assist independent small holders Sustainable Palm Oil), Unilever rich lands for palm oil plantations. to encourage manufacturers to climate change.
Consent) is one of the challenges to increase sustainability. IDH announced that it will have 100% reformulate their products with a
of expansion. will provide ‘match funding’ to the CSPO in its products by 2020. The UK Government published different vegetable oil. This initiative Herakles Farms’ 73,000 hectare
investment made by the palm oil a national statement on palm oil may have unintended consequences palm oil development in Cameroon
FEBRUARY company and/or the RSPO. This A year since the RSPO launched its pledging to use 100% certified in the long term regarding land use, was at the centre of campaigning
shows how progressive plantation own trademark, it was announced sustainable palm oil in its own food since oil palm is the highest yielding as NGOs claimed that forest had
Plantation developer Asian companies can leverage civil society that only 61 RSPO Trademark procurement by the end of 2015, vegetable oil and is the most land been cleared illegally to establish
Plantations reported that it is finding interest in helping their licenses across 13 countries covering all food bought in by central efficient. Criticism followed from a the plantation in a ‘biodiversity
‘quality opportunities’ increasingly smallholder hinterland. have been issued. The trademark government and catering services. number of industry groups, arguing hotspot’. The opposition to the
difficult to locate in Malaysia due to connects the production and There was criticism that this initiative that the tax is discriminatory as it will development was both local and
declining land availability. Malaysia’s MAY distribution of sustainable palm did not go far enough in setting greatly reduce the competitiveness international. Greenpeace called
rules on forest conversion, which are oil across the value chain and, specific time-bound commitments of the tropical oil. It still requires for the Cameroon government
stricter than other palm-producing The Belgian association of importantly, aims to raise awareness for UK industry as a whole. approval by the French to stop the forest clearance and
nations, are a contributing factor compound feed manufacturers about sustainable palm oil among Nevertheless, this step does send National Assembly. end the project. It wants better
in the availability of land for new (BEMEFA) joined the Belgian consumers. This is a low take-up a positive message to producers of standards to be put in place for land
plantations locally. This means Alliance for Sustainable Palm Oil. from the nearly 1000 members of palm who need clear signals that the The RSPO’s Principles & Criteria allocation and development of palm
the company will have to adjust This expands the country-wide the RSPO in 2012. Later RSPO demand for sustainable palm oil (P&Cs) opened for global plantations in order to prevent social
its timeframe to meet a target of Alliance, which has a target that by announced that six million tonnes of is increasing. consultation for the first time in their conflict, disruption of livelihoods and
achieving a 45,000 hectare landbank 2015 all food containing palm oil CSPO was available to purchase. 10 years in operation. Key issues destruction of forest.
promised to investors by the end intended for the Belgian market must
of 2012. meet the principles and criteria of JULY
the RSPO.
MARCH Retailer PT Carrefour Indonesia
JUNE launched Indonesia’s first RSPO-
New Britain Palm Oil announced that certified and labelled cooking oil.
it is investing heavily in producing Greenpeace released its ‘Frying the Indonesia, as well as being one of
bakery products in the UK made Forest’ report which linked Indian the world’s biggest producers of palm
from sustainable palm oil, in order to companies including Britannia, oil, is also a major consumer. Palm
dramatically increase the volume and Godrej and Ruchi Soya to rainforest oil is widely used as cooking oil in
variety that is available to UK food destruction in Indonesia through the Asian continent and is important
manufacturers. A large proportion their use of palm oil. India is one of for nutrition in the region. Carrefour
(25-30%) of UK palm oil is consumed the biggest consumers of palm oil announced that it is in discussions
by the baked goods sector and this globally and Greenpeace formally with other Asian countries to export
offers an opportunity to improve the called on Indian companies to this cooking oil to other markets
UK’s profile as a whole. commit to sourcing sustainable palm including Malaysia, India and China.
oil not linked to deforestation.
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