Nearly two-thirds of financial institutions have no commodity-specific policies to address deforestation risks in their portfolios, including the world’s three biggest asset managers, a report from Global Canopy, an environmental organisation has found.
The latest Forest500 report, released today (13 January) showed BlackRock, Vanguard and State Street, the world top three asset managers by AuM, have not made public policies to avoid deforestation. In the UK, Baillie Gifford, Legal & General, Janus Henderson, and Schroders were also called out for their inaction. The annual Forest500 report assesses and ranks the 350 companies that produce, use, trade or sell the largest amounts of these commodities, and the 150 biggest banks, institutional investors and pension funds that finance them The report found that financial institutions ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
