The CDP has singled out L’Oréal and Beiersdorf as two of the very few companies deserving of praise for the way they engage with suppliers on the protection of forests, particularly when it comes to the sustainable sourcing of palm oil.
Some 70 percent of the 1,500 companies with high impact on forests fail to provide the organisation with data on their impact, including major brands such as Dominos and Mondelez. Of those that reported data, 24 percent are showing no or limited action to reduce deforestation.
“Our data shows companies are not doing enough to end deforestation. Meanwhile the hundreds of high-impact companies that have not disclosed through CDP and therefore not been analyzed in this report could be missing out on lucrative opportunities. They could also be sitting on a black box of risks that their investors, customers and end consumers are not aware of, but are increasingly demanding transparency on,” said Morgan Gillespy, Global Director of Forests at CDP.