The new Forest 500 report, published by environmental group Global Canopy, assessed 350 top companies and 150 financial institutions that fund them, finding that a third of companies have no policies in place at all to ensure their products are not driving deforestation. “Most companies and financial institutions with the greatest ability to halt deforestation are doing little or nothing,” said Niki Mardas, Executive Director at Global Canopy, which conducted the research.

Around three quarters of global deforestation is driven by agriculture, according to Our World in Data. This is a key driver of climate change and can have a devastating impact on wildlife, ecosystems, and the lives of Indigenous peoples.