A recent study commissioned by the Race to Zero climate campaign, a United Nations affiliate, analyzed environmental programs of 350 companies in forest, land use, and agriculture sectors to find that, although 148 committed to net-zero greenhouse gas emission targets, only nine made substantial progress on curbing deforestation, reports The Wall Street Journal. Without immediate action to protect forests, these companies will not make their climate targets, according to the report.
Nigel Topping, a climate action champion working with the UN, underlined the urgency for action, indicating that unless companies commit to stopping deforestation by 2025, net-zero targets may be out of reach.
Forests play a crucial role in mitigating climate change damage because trees keep greenhouse gases out of the atmosphere. The Wall Street Journal cited the UN’s scientific panel of climate change which found that half of the farming and forestry sector’s 22 percent contribution to greenhouse gas emissions comes from clearing forests.
The study’s authors suggested that companies and investors can still enact positive change. Niki Mardas, executive director of Global Canopy said that companies with great exposure to deforestation in their business operations and processes have “the greatest opportunity and imperative to drive change.” Full Story (Subscription required)
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