Risky Business

Risky Business

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Uploaded 07 Sep 2015 by GRID-Arendal
Year: 2015
From collection: State of the Rainforest
Author: GRID-Arendal
Description:
Map of Norwegian Pension fund investments in business sectors causing deforestation, 2013. Norway’s Government Pension Fund Global is the biggest sovereign wealth fund in the world. With its heavy investments in the industries that destroy rainforests, the Fund has the opportunity as well as the responsibility to reduce forest destruction by exerting influence on the companies in its investment portfolio. The main drivers of tropical forest destruction are commercial companies that exploit natural resources found in forest areas – like timber, minerals or oil – or clear forests to use the land for agriculture – like palm oil, soy and cattle ranching.43 The banking and finance sector indirectly contributes to forest destruction by providing the capital that makes it possible for companies to exploit forest resources. Therefore, a very effective approach to reducing forest destruction can involve getting financial institutions to adopt no-deforestation policies, and to place ...
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