Friends Fiduciary Joins Investor Initiative To End Deforestation In Latin America

Friends Fiduciary has joined an investor initiative formed to address deforestation in Latin America. Studies have found that deforestation rates in the Brazilian Amazon have increased in recent years, which is concerning for both local communities and global environmental health. Deforestation “accounts for nearly the same amount of global greenhouse gas emissions as the entire global transportation sector,” and as investors, we feel that it is in companies’ best long-term interests to develop sustainable supply chains.

Investor signatories to the Latin American Forest Protection Initiative (LAPFI), including Friends Fiduciary, represent over $600 billion dollars in assets under management.

The initiative sent letters to both commodity and consumer-facing companies, asking them to commit to a zero deforestation policy in Latin America and cut ties with suppliers engaging in unsustainable practices such as clear-cutting. Further, companies are asked to implement policies that protect against exploitation of workers and communities. Companies contacted include Archer Daniels Midland, Bunge, McDonalds, and Wal-Mart.

For a more in-depth view of recent developments on the Latin American deforestation issue, read this New York Times article.