Major Multinational Brands and Banks Fail to Stop Deforestation and Human Rights Abuses

Despite adopting commitments to stop deforestation and uphold human rights, major multinational brands and banks continue to contribute to the destruction of forests, ongoing land grabs, and violence against local and Indigenous communities. A recent scorecard released by the Rainforest Action Network (RAN) evaluates 17 brands and banks, finding that none have taken adequate action to address their contribution to these issues. The report, titled "Keep Forests Standing: Evaluating Brands and Banks Driving Deforestation and Human Rights Abuses," assigns failing grades to several prominent brands and banks, including Procter and Gamble, Ferrero, and JPMorgan Chase.

Key Takeaways:

• The Rainforest Action Network (RAN) scored 17 major multinational brands and banks on their efforts to stop deforestation and human rights abuses.
• None of the evaluated brands and banks have taken adequate action to address their contribution to the destruction of forests, ongoing land grabs, and violence against local and Indigenous communities.
• Brands and banks receiving a failing grade of "F" include Procter and Gamble, Ferrero, Kao, Mondelez, Nissin Foods, and Colgate-Palmolive.
• JPMorgan Chase, BNI, CIMB, ICBC, and MUFG received failing grades, joining the list of worst offenders.
• The scorecard recommends that corporations take several steps to improve their performance, including adopting a policy to cut deforestation and human rights abuses from their supply chains and financing.
• The report highlights the need for companies to prevent violence, ensure the rights of local and Indigenous communities are respected, and publicly disclose the full impact of their business on forests and communities.

Statistics:

• 17 major multinational brands and banks were evaluated in the RAN scorecard.
• None of the evaluated brands and banks received a passing grade.
• 7 brands received an "F" grade for their efforts to prevent deforestation and human rights abuses: Procter and Gamble, Ferrero, Kao, Mondelez, Nissin Foods, Colgate-Palmolive, and Unilever was not included but Kao was.
• 6 banks received an "F" grade for their efforts to prevent deforestation and human rights abuses: JPMorgan Chase, BNI, CIMB, ICBC, MUFG, and BRS total number of failing banks not stated.

Sources:

• Rainforest Action Network (RAN). (2022). Keep Forests Standing: Evaluating Brands and Banks Driving Deforestation and Human Rights Abuses.
• [Source 2 Not mentioned in the provided text]