'We need to spread action on #deforestation across the entire finance sector and stay focused on it." Niki Mardas, our Executive Director, breaks down the significance of London Climate Action Week & announces DEFT Pathway, which will help financial institutions to better engage with portfolio companies 💼 DEFT Pathway, launching in beta later this year, aims to drive aligned engagement from the finance sector on companies, in order to shift deforestation out of their supply chains. It is also a pathway for better integration with #climate and #nature transition frameworks 🌳 #LCAW2024 Nature4Climate Find out more: deftpathway.org
Global Canopy
Non-profit Organizations
Oxford, United Kingdom 16,219 followers
Data for nature. Global Canopy provides world-leading data to assess, track and act on deforestation and nature loss.
About us
Global Canopy is a data-driven not for profit that targets the market forces destroying nature. We do this by improving transparency and accountability. We provide innovative open-access data, clear metrics, and actionable insights to leading companies, financial institutions, governments and campaigning organisations worldwide to help them make better decisions about nature, forests and people.
- Website
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http://GlobalCanopy.org
External link for Global Canopy
- Industry
- Non-profit Organizations
- Company size
- 51-200 employees
- Headquarters
- Oxford, United Kingdom
- Type
- Nonprofit
- Specialties
- Drivers of Deforestation, Forests and Finance, Natural Capital, Water, Energy and Food Security, Forest 500, Transparency, Traceability, sustainability, and Trase
Locations
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Primary
3 Frewin Chambers, Frewin Court
Oxford, United Kingdom OX1 3HZ, GB
Employees at Global Canopy
Updates
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Global Canopy reposted this
According to Global Canopy, $6.1 trillion USD has been given by financial institutions to 350 companies linked to deforestation. However, according to Pablo Pacheco, Lead Scientist, WWF Forest Practice, “The global economy is dependent on nature and is therefore exposed to the financial risk of short- and long-term nature loss." WWF have released a new guide for the finance sector, calling on investors, regulators, and bankers to reduce their involvement in driving deforestation by addressing their activities and portfolios - with the aim of significantly reducing financial risks associated with environmental degradation. Explore the guide: https://lnkd.in/g3DEFzUW #Deforestation #Finance #SustainableFinance #SupplyChains #Nature #NatureLoss #BiodiversityLoss
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Global Canopy reposted this
🌡 Monday was the hottest day ever on Earth at 17.15C, according to the European climate change service Copernicus ECMWF. The latest ‘state of the climate’ report by Carbon Brief found a 95% chance for 2024 to surpass 2023 as the warmest year on record with each of the first six months of this year setting new temperature records ➡https://lnkd.in/dyuwGYTj 🌳 Forests are essential carbon sinks absorbing our #greenhouse gas emissions. More than half of global GDP depends on #nature – yet globalised markets are destroying the natural world we all depend on to survive. 🌿 There is no solution to #climatechange without a solution to nature loss. This starts with halting and reversing deforestation. #Netzero plans that don’t address #deforestation are incomplete and will be ineffective.
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🌳Testing for and securing the Free, Prior and Informed Consent (FPIC) of Indigenous Peoples is critical for companies and financial institutions if they are serious about tackling #deforestation. But only 40% of Forest 500 companies are doing this - according to our latest briefing, that shows too often human rights are a blindspot in company and financial institution action. It is clear that effective action to tackle deforestation must go hand in hand with tackling the human rights abuses that happen alongside it. Read the briefing⬇️ https://lnkd.in/dgp2Dxjb Register to join today’s launch webinar at 14:00 BST⬇️ https://lnkd.in/dZ-pd6ZY You'll hear from Global Canopy Global Witness, Instituto Socioambiental, Forest Peoples Programme and People's Palace Projects
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🌳One day to go to sign up for the Forest 500 human rights webinar: The human rights blindspot in #deforestation action 🗓️24 July, Wednesday, from 14:00-14:45 BST Register now ➡️ https://lnkd.in/eW_dp44v It's time for companies and financial institutions to act on this critical link. Hear from 📢⬇ Adriana Ramos | Instituto Socioambiental Cathal Doyle | Forest Peoples Programme Emma Thomson | Forest 500, Global Canopy Giulia Bondi | Global Witness Yula Rocha | People's Palace Projects | Moderator
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💷 Our latest Forest 500 report showed $6.1 trillion was given by just 150 financial institutions to 350 companies linked to #deforestation. New WWF guidance draws on that finding. 📑 The introductory guide to deforestation and conversion demands urgent measures to lessen the finance sector’s contribution to global deforestation and ecosystem conversion. 🔍It also noted the importance of our collaborative initiatives - ENCORE, Forest 500, Trase - Intelligence for sustainable trade, Forest IQ and Taskforce on Nature-related Financial Disclosures (TNFD) - to eliminate deforestation from financial portfolios. 📊Financial institutions should commit to using the Finance Sector Roadmap to eliminate commodity-driven deforestation, conversion and associated #humanrights abuses from their portfolios by 2025. Read the full WWF guide here ⬇ https://lnkd.in/eQ95gnNp
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One of the most frequently asked questions we get surrounding the #EUDR is how Trase - Intelligence for sustainable trade data can be used to help implement it. Here’s how Trase can support companies and governments as EUDR is set to come into effect from 30 December 2024 ⬇️ ↔ Inform risk-based plans to target enforcement checks by authorities - Trase’s open dataset enables competent authorities to triage risk, including subnational risk benchmarking of commodity deforestation for risk profiling suppliers and ports of export based on sourcing patterns. ↔ Evaluate the impact of the regulation - Trase’s systemic view of global trade is key to understanding the net effect of the EUDR and any ‘leakage’ effects. ↔ Source of evidence for due diligence risk assessment step - Trase can provide information for criteria on “the prevalence of #deforestation in the country of production” through its extensive data on subnational commodity deforestation. ↔ Hold governments and companies accountable - Civil society can use Trase data to identify and investigate high-risk shipments, ports, operators and sourcing regions. Trase co-directors Helen Bellfield and Toby Gardner explain in detail the answers to all your FAQs on the benefits and limitations of our data for EUDR implementation ⬇ https://lnkd.in/eA_a2Thu
Five ways Trase can and cannot support the EU deforestation regulation
https://globalcanopy.org
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🌳The UK is part of the global #deforestation problem. We rely on forest risk commodities – cattle products, cocoa, palm oil, coffee and soy. So action on deforestation must be on the new government’s agenda. 📑A critical first step is creating detailed and effective due diligence obligations promised in the 2021 UK Environment Act. #Labour has promised international leadership in the climate and #nature space but we need more. 💷A 2021 study found #UK financial institutions provided £40 billion in direct finance and £198 billion in indirect finance to companies at risk of causing deforestation. By regulating the #finance sector, the government would create a world-leading law on deforestation. ✍The UK demonstrated real leadership at #COP26 in Glasgow by getting over 100 countries to sign in agreement to halt and reverse deforestation by 2030. Now we need action, not just words, ensuring that commitments don’t become missed deadlines. Helen Bellfield, our Deputy Executive Director explains the key asks from the UK leaders here -> https://lnkd.in/eFy-DsKc #UKgovernment #EnvironmentAct
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🏦 As Ursula von der Leyen wins a second term as European Commission president, we urge her to ensure that the #EU stands firm in pursuing the objectives set out in the EUDR. “The EU urgently needs to break away from a production and consumption model that fuels nature destruction and threatens human rights and farming livelihoods.” 📑 Read our letter written along with other NGOs demanding the swift implementation of the #EUDR and the compliance of all relevant actors -> https://lnkd.in/gY5jW4c5 #EUelection #EuropeanCommission #Deforestation
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🌳 Progress on #deforestation hinges on effective engagement. Working in partnership with #finance sector networks, DEFT Pathway will support financial institutions to better engage with the companies most exposed to deforestation. "By acting on deforestation, financial institutions will make progress towards meeting both #climate and #nature targets, and address associated human rights and social issues. DEFT Pathway is a promising tool that can enable implementation and alignment across the ecosystem to advance action on deforestation," says Sagarika Chatterjee, Department Director, Climate Finance, High-Level Climate Champions. 💡 Want to know more about DEFT Pathway? Check here -> https://deftpathway.org