Through CDP's forests program, we work with companies to reduce deforestation and improve understanding of related risk.

Deforestation and forest degradation account for approximately 10-15% of the world's greenhouse gas emissions. Addressing deforestation is critical for meeting international ambitions to prevent dangerous climate change.

CDP's forests program acts on behalf of 365 signatory investors with US$22 trillion in assets who wish to understand how companies are addressing their exposure to deforestation risks.

Download the Global Forests Report 2015 to see:

  • The business case for removing deforestation from supply chains;
  • Corporate progress on delivering zero-deforestation commitments; and
  • A five-point supply chain plan for translating commitments into action.
View the report »



180 companies, worth over US$3tn, demonstrated an understanding of the need to tackle deforestation by responding this year.


Investor signatories

365 investor are now signatories to CDP forests program, representing US$22tn. This is over 4 times as many signatories than in 2012.



88% of companies report opportunities related to the sustainable production or sourcing of forest-risk commodities.

Investors want to understand what management understands: Does management understand their supply chain; does management understand the risks they face related to deforestation and do they understand the risks they’re creating?

Jonas D. Kron

Director of Shareholder Advocacy at Trillium Asset Management

Information is collected through the lens of the four agricultural commodities responsible for most deforestation:




The world’s remaining forests occupy just over 3.9 billion hectares, or 30.6% of the global land area1. Global demand for wood and wood products creates pressure on tropical countries to produce cheap timber and pulp, and this demand is expected to continue to rise, driven by growing and increasingly affluent populations around the world. While this demand will be met in part through sustainable sources and industrial efficiency, the pressure on natural forests worldwide will continue to rise, particularly in developing countries where costs are lower and climates are suitable for fast-growing trees.


Palm oil

Palm oil

Palm oil is the leading edible oil by production volume and is found in a wide variety of products used globally every day, including chocolate, soap and cosmetics. It is also an important cooking oil in many countries and is used in other industries including the livestock and meat sector, and, increasingly, biofuels. The success of palm oil as a global commodity lies in its tremendous versatility, and in its high yields and low production costs. This makes production of palm oil economical within the limited agricultural land available globally. Historically, however, the industry has brought more land into production rather than working to improve yields on existing estates.



Cattle products

Expansion of cattle-ranching for beef, leather and tallow production is the key driver of deforestation in Latin America and is reported to be responsible for around 75% of deforestation in Brazil 2, the country with the largest herd and whose deforestation is best monitored. In the 1980s, well-known environmentalist Norman Myers coined the phrase “the hamburger connection” to describe deforestation resulting from fast food chains in the United States greatly increasing their beef imports from Central America. At the time Brazil exported very little beef, but exports have increased by a factor of nine in the last fifteen years3, all too frequently at the cost of natural forest.

2Bustamante MMC, et al. (2012) Estimating greenhouse gas emissions from cattle raising in Brazil. Climate Change 115, 559-577




The soybean is an extremely versatile commodity. It is used for vegetable oil, as a source of protein in meat and dairy substitutes, and as a hidden ingredient in many processed food products. Overwhelmingly though, it is found in livestock feed. Global demand is rising quickly, primarily driven by rising demand for feedstock in China. The majority of the increase in soy production over the past decades has been in Brazil, where soy expansion has driven deforestation in the Amazon, Atlantic Forests and the Cerrado region.


Why participate in CDP's forests program?

Investor communication

Demonstrate to investors your proactive approach towards addressing deforestation risk.

Stakeholder communication

Increase your transparency and effectively communicate to your stakeholders.

Internal risk management

Improve the resilience of your supply chain.


Seize the opportunities associated with sourcing sustainable commodities.


Understand your performance and progress.

Staying ahead of the curve

Keep up to date on global commodity challenges.


Join a focal point for collaboration and information exchange.

Respond to our information request »
Become an investor signatory »
View forests program investor signatories and members
3Sisters Sustainable Management LLC
Active Earth Investment Management
Addenda Capital Inc.
AGF Investment Inc.
Align Impact LLC
Alliance Trust
AMF Pension
Amundi AM
ANBIMA – Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais
Antera Gestão de Recursos S.A.
Arabesque Asset Management
Arisaig Partners Asia Pte Ltd
Arjuna Capital
ASM Administradora de Recursos S.A.
Atlantic Asset Management Pty Ltd
Australian Ethical Investment
Avaron Asset Management
Aviva Investors
Aviva plc
AXA Group
AXA Investment Managers
BAE Systems Pension Funds Investment Management Ltd
Baillie Gifford & Co.
Banco Bradesco S/A
Banco BTG Pactual SA
Banco da Amazônia S.A.
Banco do Brasil Previdência
Banco do Brasil S/A
Banesprev – Fundo Banespa de Seguridade Social
Bank J. Safra Sarasin Ltd
Bank Vontobel AG
Banque Libano-Française
Basellandschaftliche Kantonalbank
BASF Sociedade de Previdência Complementar
BioFinance Administração de Recursos de Terceiros Ltda
Blom Bank SAL
Blumenthal Foundation
BMO Global Asset Management EMEA
Boston Common Asset Management, LLC
Brasilprev Seguros e Previdência S/A.
Breckenridge Capital Advisors
British Airways Pension Investment Management Limited
BSW Wealth Partners
CAI Corporate Assets International AG
Caixa de Previdência dos Funcionários do Banco do Nordeste do Brasil (CAPEF)
Caixa Econômica Federal
Caixa Geral de Depósitos
Caja de Ingenieros
California State Teachers' Retirement System
California State University, Northridge Foundation
Calouste Gulbenkian Foundation
Calvert Investment Management, Inc.
Cathay Financial Holding Co. Ltf.
Catholic Super
CCLA Investment Management Ltd
Cedrus Asset Management
Central Finance Board of the Methodist Church
CERES-Fundação de Seguridade Social
Christian Brothers Investment Services
Christian Super
Christopher Reynolds Foundation
Church Commissioners for England
Church of England Pensions Board
Clean Yield Asset Management
ClearBridge Investments
Climate Change Capital Group Ltd
CM-CIC Asset Management
Columbia Threadneedle Investments
Commonwealth Superannuation Corporation (CSC)
Compton Foundation
Confluence Capital Management LLC
Connecticut Retirement Plans and Trust Funds
Conser Invest
Crayna Capital, LLC.
Credit Agricole
CTBC Financial Holding Co., Ltd.
Cultura Bank
Cyrte Investments B.V.
Dana Investment Advisors
Degroof Petercam
Delta Lloyd Asset Management
Development Bank of Japan Inc.
Dexia Asset Management
Domini Social Investments LLC
Doughty Hanson & Co.
East Capital AB
EBG Capital
EdenTree Investment Management
EEA Group Ltd
Ekobanken medlemsbank (cooperative bank)
Element Investment Managers
ELETRA - Fundação Celg de Seguros e Previdência
Elo Mutual Pension Insurance Company
Environment Agency Active Pension fund
Environmental Investment Services Asia Limited
Erik Penser Fondkommission
Erste Asset Management
Ethos Foundation
Etica Sgr
Evangelical Lutheran Church in Canada Pension Plan for Clergy and Lay Workers
Evangelical Lutheran Foundation of Eastern Canada
Evangelisch-Luth. Kirche in Bayern
FAELCE – Fundacao Coelce de Seguridade Social
FAPERS- Fundação Assistencial e Previdenciária da Extensão Rural do Rio Grande do Sul
FASERN - Fundação COSERN de Previdência Complementar
Federal Finance
Fédéris Gestion d'Actifs
Finance S.A.
Financiere de l'Echiquier
FIPECq - Fundação de Previdência Complementar dos Empregados e Servidores da FINEP, do IPEA, do CNPq
First Affirmative Financial Network
First Commercial Bank
First State Super
Fondo Pensione Gruppo Intesa Sanpaolo - FAPA
FRANKFURT-TRUST Investment-Gesellschaft mbH
Friends Fiduciary Corporation
FUNCEF - Fundação dos Economiários Federais
Fundação AMPLA de Seguridade Social - Brasiletros
Fundação Atlântico de Seguridade Social
Fundação Attilio Francisco Xavier Fontana
Fundação Banrisul de Seguridade Social
Fundação Chesf de Assistência e Seguridade Social – Fachesf
Fundação Corsan - dos Funcionários da Companhia Riograndense de Saneamento
Fundação de Assistência e Previdência Social do BNDES - FAPES
Fundação Itaipu BR - de Previdência e Assistência Social
Fundação Itaúsa Industrial
Fundação Rede Ferroviaria de Seguridade Social – Refer
Fundação Sistel de Seguridade Social (Sistel)
Fundação Vale do Rio Doce de Seguridade Social - VALIA
Futuregrowth Asset Management
GameChange Capital LLC
GEAP Fundação de Seguridade Social
General Equity Group AG
Generation Investment Management
Genus Capital Management
German Equity Trust AG
Global Forestry Capital SARL
Globalance Bank Ltd
Goldman Sachs Asset Management
GOOD GROWTH INSTITUT für globale Vermögensentwicklung mbH
Good Super
Government Employees Pension Fund (“GEPF”), Republic of South Africa
Greater Manchester Pension Fund
Green Alpha Advisors
Green Century Capital Management
Green Science Partners
Grupo Santander Brasil
Hannon Armstrong Sustainable Infrastructure Capital, Inc
Harbour Asset Management
Hazel Capital LLP
Henderson Global Investors
Hermes Investment Management
HSBC Fundo de Pensão
Iguana Investimentos
Ilmarinen Mutual Pension Insurance Company
Impax Asset Management
Inflection Point Capital Management
Insight Investment
Instituto de Seguridade Social dos Correios e Telégrafos- Postalis
Instituto Infraero de Seguridade Social - INFRAPREV
Instituto Sebrae De Seguridade Social - SEBRAEPREV
Integre Wealth Management of Raymond James
Invesco Perpetual Uk Smaller Companies Trust
Investec Asset Management
Irish Life Investment Managers
Itau Asset Management
Itaú Unibanco Holding S A
Jantz Management LLC
Jessie Smith Noyes Foundation
Johnson Private Wealth Management
Kagiso Asset Management
Kaiser Ritter Partner Privatbank AG
Kepler Cheuvreux
Kleinwort Benson Investors
KPA Pension
Laird Norton Family Foundation
Legal and General Investment Management
LGT Group Foundation
Local Authority Pension Fund Forum
Local Government Super
LocalTapiola Asset Management Ltd
London Pensions Fund Authority
Ludgate Investments Limited
Maine Public Employees Retirement System
Making Dreams a Reality Financial Planning
Marc J. Lane Investment Management, Inc.
Martin Currie Investment Management
Maryknoll Sisters
Matrix Asset Management
Mediobanca S.p.A.
Mellon Capital
Mendesprev Sociedade Previdenciária
Mercer Investments
Merck Family Fund
Mercy Investment Services, Inc.
Merseyside Pension Fund
Metrus – Instituto de Seguridade Social
Miller/Howard Investments, Inc.
Mistra, The Swedish Foundation for Strategic Environmental Research
Momentum Manager of Managers (Pty) Ltd
Monega Kapitalanlagegesellschaft mbH
Mongeral Aegon Seguros e Previdência S/A
Montanaro Asset Management Limited
Morgan Stanley
National Australia Bank Limited
National Employment Savings Trust (NEST)
National Grid UK Pension Scheme
National Pensions Reserve Fund of Ireland
Natural Investments LLC
NEI Investments
Nelson Capital Management, LLC
Neuberger Berman
New Amsterdam Partners LLC
New Forests
New Resource Bank
New York State Common Retirement Fund
Newground Social Investment
Norges Bank Investment Management
Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC)
NorthStar Asset Management, Inc
Northward Capital Pty Ltd
Notenstein Privatbank AG
Oceana Investimentos ACVM Ltda
OceanRock Investments
Office of the Vermont State Treasurer
Oliver Rothschild Corporate Advisors
Oppenheim & Co. Limited
Opplysningsvesenets fond (The Norwegian Church Endowment)

Overlook Investments Limited
PAI Partners
Park Foundation
Parnassus Investments
Pax World Funds
PCJ Investment Counsel Ltd.
Pensioenfonds Vervoer
PETROS - The Fundação Petrobras de Seguridade Social
PGGM Vermogensbeheer
Pictet Asset Management SA
Plato Investment Management
Polden-Puckham Charitable Foundation
Porto Seguro S.A.
PREVIG Sociedade de Previdência Complementar
Previnorte - Fundação de Previdência Complementar
Progressive Asset Management, Inc.
Psagot Investment House Ltd
Rathbones / Rathbone Greenbank Investments
Real Grandeza Fundação de Previdência e Assistência Social
Reynders McVeigh Capital Management
River Twice Capital Advisors, LLC
RobecoSAM AG
Rockefeller Asset Management, Sustainability & Impact Investing Group
Rothschild & Cie Gestion Group
Royal London Asset Management
RPMI Railpen Investments
Ruffer LLP
Russell Investments
Samsung Fire & Marine Insurance Co.,Ltd.,
Santa Fé Portfolios Ltda
Santander Brasil Asset Management
Sarasin & Partners
SERPROS - Fundo Multipatrocinado
Shinkin Asset Management Co., Ltd
Sisters of St Francis of Philadelphia
Sisters of St. Dominic
Smith Pierce, LLC
SNW Asset Management
Sociedade de Previdencia Complementar da Dataprev - Prevdata
Società reale mutua di assicurazioni
Solaris Investment Management Limited
Sompo Japan Nipponkoa Holdings, Inc
Sonen Capital
Soprise! Impact Fund
South Yorkshire Pension Fund
SPF Beheer bv
Spring Water Asset Management
Sprucegrove Investment Management Ltd
Standard Life Investments
Standish Mellon Asset Management
Stewart Investors
Storebrand ASA
Strathclyde Pension Fund
Stratus Group
Sustainable Development Capital
Sustainable Insight Capital Management
Svenska kyrkan
Svenska kyrkans pensionskassa
Swift Foundation
Sycomore Asset Management
Symphonia sgr
Tasplan Super
TD Asset Management (TD Asset Management Inc. and TDAM USA Inc.)
TD Securities (USA) LLC
Telstra Super
Terra Alpha Investments LLC
Terra Global Capital, LLC
The Bullitt Foundation
The Colorado College
The Council of Lutheran Churches
The Daly Foundation
The Environmental Investment Partnership LLP
The Joseph Rowntree Charitable Trust
The Nathan Cummings Foundation
The New School
The Russell Family Foundation
The Sustainability Group at the Loring, Wolcott & Coolidge Office
The University of Edinburgh Endowment Fund
Trillium Asset Management, LLC
Triodos Investment Management
Tri-State Coalition for Responsible Investment
Trusteam Finance
Union Investment Privatfonds GmbH
UNISON Staff Pension Scheme
Unity College
University of California
University of Massachusetts Foundation
University of Toronto
University of Toronto Asset Management Corporation (UTAM)
University of Washington
Veris Wealth Partners
Veritas Pension Insurance
Vinva Investment Management
Vision Super Pty Ltd
Walden Asset Management
West Midlands Pension Fund
Westfield Capital Management Company, LP
WHEB Asset Management
Yuanta Financial Holding
Zevin Asset Management, LLC
Zürcher Kantonalbank

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CDP’s forests program was first pioneered by the Global Canopy Programme ( which remains a prime funder for the program and acts as the principal advisor on forests and forest risk commodities to CDP.

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A company limited by guarantee registered in England no. 05013650