River and Mercantile Joins 229 Institutional Investors in Fight Against Deforestation
On September 18th, River and Mercantile proudly joined a group of 230 institutional investors (representing $16.2 trillion in assets under management) to sign a statement urging companies to take action against the escalating crisis of deforestation in Brazil and Bolivia. The increased deforestation in these areas has been linked to the recent devastating fires plaguing the Amazon.
The statement explains that “As investors, who have a fiduciary duty to act in the best long-term interests of our beneficiaries, we recognise the crucial role that tropical forests play in tackling climate change, protecting biodiversity and ensuring ecosystem services.”
The statement also asks companies to commit to eliminating deforestation within their operations and supply chains. In order to achieve this it asks companies to:
- publicly disclose and implement a commodity-specific no deforestation policy with quantifiable, time-bound commitments covering the entire supply chain and sourcing geographies.
- assess operation and supply chains for deforestation risk and reduce this risk to the lowest possible level and disclose this information to the public.
- establish a transparent monitoring and verification system for supplier compliance with the company’s no deforestation policy.
- report annually on deforestation risk exposure and management, including progress towards the company’s no deforestation policy.
You can read the full statement, which includes a list of firm signatories here