CDP's forests program
According to the latest report from the Intergovernmental Panel on Climate Change (IPCC), deforestation accounts for approximately 10% of the world’s greenhouse gas emissions. And the main driver of deforestation globally is land use change for agriculture.
CDP's forests program assists companies and their investors worldwide to understand and address their exposure to deforestation risks through their use of five agricultural commodities that are responsible for most deforestation – timber products, palm oil, soya, cattle products and biofuels. These are forest risk commodities – products that contribute to forest clearance and create unexpected, operational, reputational and valuation risks for businesses that rely on them.
The program acts on behalf of investors to collect information from companies on the operational, reputational and regulatory risks and opportunities, and the value creation and erosion, resulting from this exposure.
CDP’s forests program was formerly known as the Forest Footprint Disclosure Project (FFD). The project was founded in 2009 by the Global Canopy Programme to assist companies and their investors worldwide in understanding and addressing their exposure to ‘forest risk commodities’. In 2013, requests were sent out on behalf of 184 investors with $13 trillion in assets.
In June 2012 CDP and GCP announced an alliance to merge GCP’s Forest Footprint Disclosure Project with CDP. This strategic merger brings corporate disclosure on the climate, water and forests under one roof, resulting in the world’s largest and most comprehensive natural capital disclosure system, and provides companies and investors with a single, integrated source of information for these interrelated issues.
As part of the transition process, CDP began managing FFD’s operations in February 2013, and full integration will take place by February 2014. GCP is working closely with CDP throughout the transition year of 2013, and will continue to act as the prime funder of CDP’s forests program until 2014, when it will take on a new role as advisor on forests and forest risk commodities to CDP.