Global Canopy adds new tools and guidance to the Soft Commodity Risk Platform (SCRIPT), produced in partnership with WWF, to help regional banks better manage sustainability risks for commodities such as palm oil, soy, cattle and seafood. Progress on cattle and soy: A quarter of 24 Latin American banks assessed now have a specific policy to govern lending to companies in the cattle sector, and two have specific lending policies applicable to companies in the soy sector. SDG opportunity: The production of soft commodities such as palm oil, soy, cattle, and timber contribute up to 20% of carbon emissions linked to the loss of forests globally. Latin American banks are urged to adopt policies to ensure the sustainable production of soft commodities and capture the opportunity to align their portfolios with the Sustainable Development Goals. Policy sea change required: The policies of regional banks associated with soy and cattle companies are currently focused on meeting legal requirements, such as compliance with the Brazilian Forest Code. However only one bank encourages companies to ensure Free, Prior and Informed Consent. January 07, 2019 10:00 PM Eastern Standard Time LONDON–(BUSINESS WIRE)–New research from Global Canopy, developed in partnership with WWF, has found that banks operating in Brazil and Paraguay… continue reading
Continue reading Global Canopy: New Tools Provide Significant Opportunity for Latin American Banks to “Underwrite Regional Food Security”, Through Better Management of Soft Commodity Risks. This article appeared first on CTRM Center.
Source: CTRM Center