Global asset managers taking no action to stop funding deforestation

Big names include BlackRock and Vanguard

Nearly two thirds of financial institutions have no commodity-specific policies to address deforestation risks in their portfolios, including the world’s three biggest asset managers, a report from Global Canopy, an environmental organisation has found.

The latest Forest500 report, released today (13 January) showed BlackRock, Vanguard and State Street, the world top three asset managers by AuM, have not made public policies to avoid deforestation. In the UK, Baillie Gifford, Legal & General, Janus Henderson, and Schroders were also called out for their inaction. The annual Forest500 report assesses and ranks the 350 companies that produce, use, trade or sell the largest amounts of these commodities, and the 150 biggest banks, institutional investors and pension funds that finance them The report found that financial institutions ...