World's largest sovereign wealth fund takes stand against deforestation
Norway's Government Pension Fund Global — the world's largest sovereign wealth fund — is adopting standards to avoid investing in companies linked to tropical deforestation, sending a strong signal that forest destruction is not an acceptable practice for responsible businesses, reports Rainforest Foundation Norway.
an analysis of the Norway’s Government Pension Fund Global's (GPFG)
annual report, Rainforest Foundation Norway finds that while the fund
still invests 137 billion Norwegian kroner ($19.7 billion) in sectors
tied to deforestation, it has strengthened its policies to reduce
exposure to companies that destroy forests.
The guidelines, which apply to companies with direct or indirect impacts
of tropical forests, ask firms to disclose climate change risks
associated with their operations. Norway expects these companies to have
in place strategies for reducing deforestation, protecting forests,
adhering to "industry standards and best practices in the sustainable
management of forests", monitoring their supply chains, and disclosing
their climate impact and tropical forest footprint.
to read the full article.
Photo: Dieter Schütz / pixelio.de
Tags: Biodiversity Management | Forestry and paper
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