The Ernest Kleinwort Charitable Trust awarded funding in 2023 to Global Canopy to manage the significant growth in demand for their data.
“Every six seconds an area of rainforest the size of a football field is cleared for commodities like soy, beef, timber and palm oil – which end up in half the packaged goods in our supermarkets.”
Global Canopy will provide metrics and insights for investors, customers, legislators, and other stakeholders, encouraging nature positive decision making.
In 2021 they launched their new “Deforestation-Free Finance” roadmap, with guidance for financial institutions to make their portfolios deforestation free by 2025. The initiative is supported by the UK Government and over 30 financial institutions with almost US$ 9 trillion in assets under their management. In 2022, Global Canopy’s TRASE Finance tool won ‘Most Innovative ESG Product’ in the Environmental, Social, and Governance Investing Awards 2022. The tool looks at more than 500 financial institutions and 2,800 funds in the UK with exposure to companies at risk of causing deforestation.