High Profile Companies Declare Their Commitment To Managing Their Forest Footprints
By Lea Pachta
Adidas, British Airways, Kingfisher and Sainsbury’s are among the big name companies which have committed to submit their responses to a questionnaire sent to more than 200 companies by the Forest Footprint Disclosure (FFD) Project at the end of July.
The detailed questionnaire was targeted at Fortune 500 and FTSE 350 companies with high potential impacts on forests caused by the use of ‘forest risk commodities’ in their supply chains, such as palm oil, soya, timber, biofuels, beef and leather. It was designed by the FFD Project specifically to help companies identify how and where forest impact could be improved in their operations as well as aiding businesses to identify the key areas for consideration. The new initiative is endorsed by 26 asset manager companies with collective funds under management of US$2.9 trillion who believe that unsustainable commodities could cause a future valuation risk to their investments.
The results of the questionnaire will provide a brand new environmental insight and will be made available to endorsing investors. Results will also be summarised in an annual report, the first of which will be published in January 2010. The published report will identify those companies which have generated innovative strategies for managing their risk and those that have declined or ignored the FFD Project request to disclose their current forest footprint. After this baseline year a 'best in class' ranking will be developed for future editions.
By responding to the questionnaire adidas, British Airways, Kingfisher and Sainsbury’s have publicly supported the initiative, demonstrating a firm commitment to understanding and reducing their forest impacts.
Frank Henke, Global Director of Group Social & Environmental Affairs adidas Group said: “The Forest Footprint Disclosure Project offers the adidas Group a good tool to analyse and screen the company’s direct and indirect forest... continued on page two >