Projects

A large majority of global palm oil traders and refiners have implemented No Deforestation, No Peat, No Exploitation (NDPE) sourcing policies in recent years. Violations of such policies have repeatedly led to suspensions of oil palm growers from supply chains. This report investigates how 15 suspensions as a result of NDPE non-compliance impacted the financial performance of four oil palm growers: Sawit Sumbermas Sarana (SSMS), Austindo Nusantara Jaya (ANJ), Tunas Baru Lampung (TBLA), and Indofood Agri Resources.

Glencore Agriculture is an agricultural commodity trading company that operates in corn, cotton, soy, and grains markets. This report assesses Glencore Agriculture’s exposure to deforestation risks in Brazil’s soy supply chain.

Cargill is the largest privately-held company in the United States and the second largest soy exporter in Brazil. In April 2018, Chain Reaction Research (CRR) concluded that Cargill’s 2030 zero-deforestation deadline allowed its Brazilian suppliers to continue deforesting the Cerrado. This report assesses Cargill’s current deforestation risks in Brazil’s soy supply chain, given recent changes in corporate policies, market conditions and deforestation trends.

The Global insurer’s involvement in the illegal Israeli Occupation. This report by consumer watchdog SumOfUs reveals AXA’s investments in Israeli banks which in turn directly finance illegal Israeli settlements. It also highlights the ways in which Elbit Systems profits from supplying the Israeli military with a variety of banned and controversial weapons, as well as technologies used to sustain the occupation.

This report presents a benchmark for Voluntary Standard Systems (VSS) which comply with the FEFAC Soy Sourcing Guidelines. These are guidelines drafted by the European Feed Manufacturers’ Federation as minimum criteria for the sourcing of soy, to avoid illegal deforestation and other sustainability risks.

Given the important role of Chinese demand in soy production, and of Chinese financial institutions in financing and investing in the soy value chain, CDP sought to better understand the investment and lending decisions of the Chinese financial institutions involved. This research examined the financial flows from Chinese financial institutions to companies participating in the soy supply chain, identified major players, and estimated the volume of investment exposed to deforestation risk.

This briefing sheds light on those European financial institutions which provide the largest support to key European coal power utilities, and reveals the ranking of the eight financial institutions most exposed to coal. These investors and creditors cannot keep such highcarbon assets in their portfolios without taking action, and have only two responsible options: exclude or engage forcefully.

Many fast-moving consumer goods (FMCG) companies have publicly committed to a 2020 deadline to end deforestation in their supply chains. However, it is becoming increasingly clear that most FMCGs will not meet this deadline. NGO campaigns indicate increasing reputation risks for the sector. For an FMCG company, business risks related to tropical deforestation, such as market access risk, stranded asset risk, and the risk of higher costs of capital, contribute to only a small deviation in the total share value. However, reputation risk may become a much stronger value driver for them. This study explores the scientific knowledge on valuing this reputation risk.