This speech by Brian Schatz, Senator from Hawaii (D) was part of the World Economic Forum Annual Meeting held in Davos-Klosters, Switzerland, 21—24 January 2020. Seeing that half of tropical deforestation is illegal, illegal and unsustainable timber and goods are flooding global markets. Voluntary commitments cannot achieve zero-deforestation without regulation. Regulation is one of the key drivers of sustainable forestry. This year, Schatz will introduce legislation that will make it illegal for companies to import the products of illegal deforestation.
Collected news links from external sources related to topics concerning the Book Chain Project.
The Global Canopy's 'Forest 500' assesses the 350 most influential companies in forest-risk commodity supply chains and the 150 financial institutions that support them. Nearly half of the 500 assessed companies have made commitments to eliminate deforestation by 2020, but none of the companies and financial institutions assessed in 2018 are on track to meet their target in time.
The second largest US grocery chain, Safeway, has established a policy that excludes deforestation-linked palm oil from its products. Safeway is asking its suppliers to implement social and environmental criteria that ensure the palm oil it uses in branded products is “free of deforestation, free of expansion on carbon-rich peat lands…” Safeway’s move was immediately welcomed by the Rainforest Action Network, which has been campaigning to push American companies to demand greener palm oil.