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On the topic of forests, there are many standards and frameworks in the ESG space that require disclosures on how companies are engaging with forests. Some notable examples include the S&P Global Corporate Sustainability Assessment (CSA) and CDP Forest questionnaire.
The below infographic highlights just two examples of specific forest disclosures that are required by both questionnaires.
No Deforestation Commitment
In the 2023 CDP questionnaire, subsection F4.6 ‘Public Commitment’ requires disclosures on a company’s commitment to remove/reduce deforestation from its direct operations and/or supply chain. Such commitments must be public.
Similarly, the CSA questionnaire has a No Deforestation Commitment question which also requires public evidence to support a company’s commitment to end deforestation in its operations and whether this covers a company’s supply chain. Companies may also disclose their monitoring system to ensure compliance as well as engagements with their suppliers.
Forest Management
Both the CDP and the CSA questionnaires ask for details on a company’s forest management. Such disclosure requirements include details on the land leased/owned/managed by the company. Both questionnaires also ask whether a company has received any management certifications such as: Forest Management certification (FSC), Sustainable Forest Management certification (PEFC), Forest Management standard certification (SFI).
For more info on the CDP: https://www.nossadata.com/blog/cdp-released-their-scores-for-2023-responders
