MIDANA CAPITAL Endorses the California Deforestation Free Procurement Act
It is impossible to overstate the importance of forest protection in the effort to combat climate change. Deforestation is responsible for approximately 15% of all global greenhouse gas emissions, making it the third largest driver of climate change.
California Assembly Bill 572 (AB 572) aims to stop it.
AB 572, the California Deforestation Free Procurement Act, would require all companies contracting with California to demonstrate “deforestation-free” supply chains for any products – such as palm oil, soy, cattle, rubber, paper or pulp, and timber – linked to deforestation.
It also would require state contractors dealing with forest-risk commodities to have No Deforestation, No Peat, No Exploitation (NDPE) policies, which are the global standard for sustainable palm oil supply chains.
The bill would go into effect on January 1, 2022.
As one of the leading global investors working to end deforestation, MIDANA CAPITAL is proud to endorse AB 572.
If we are going to successfully combat climate change, we must end the destruction of tropical forests and peatlands.
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This information has been prepared from sources believed to be reliable. The views expressed are as of the date of this writing and are those of the Advisor to the Funds.
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