Permutable AI releases ranking of companies best and worst perceived for deforestation ahead of COP28

Permutable AI unveils its corporate deforestation perception rankings ahead of COP 28, highlighting top performers and areas of concern.

LONDON, UNITED KINGDOM, November 28, 2023 /EINPresswire.com/ -- Permutable AI, a cutting-edge data analytics company, has released its ranking of companies best and worst perceived for deforestation. The data sheds light on the environmental practices of major corporations at a time when deforestation continues to rise.

This release comes at a critical juncture ahead of COP28, shining a spotlight on the environmental practices of major corporations as the global issue of deforestation continues to escalate.

One of the pivotal themes to be discussed at COP28 is deforestation—a pressing concern that demands urgent attention, with Brazil set to propose a mega fund to conserve forests at the summit.

Despite a commendable 34% reduction in deforestation in Brazil's Amazon during the first half of 2023, the world is moving too slowly to meet pledges to end deforestation by 2030. Around 4.1m hectares of primary tropical rainforest was lost globally in 2022 – an increase of 10% from 2021 with Brazil, the Democratic Republic of the Congo (DRC) and Bolivia topping the table for tropical primary forest loss.

Ranking Top Performers:

Companies which are the most highly regarded for their practices in mitigating deforestation are:

- Nestlé SA (Food)
- Unilever PLC (Cosmetics/Personal Care)
- Barry Callebaut AG (Food)
- Mondelez International Inc (Food)
- Aviva (Finance)

Nestlé, Unilever, Barry Callebaut, Mondelez, and Aviva are all recognized for their efforts to mitigate deforestation. These companies have made public commitments to sourcing deforestation-free palm oil, cocoa, and other commodities. They have also invested in traceability and certification, and they work with farmers and other stakeholders to promote sustainable practices.

Ranking Areas of Concern:

Conversely, the ranking highlights companies facing increased scrutiny for their perceived negative impact on deforestation:

- JBS SA (Food)
- BlackRock Inc (Financial Services)
- Michelin (CGDE) (Auto Parts & Equipment)
- BNP Paribas (Financial Services)
- HSBC (Financial Services)

JBS, BlackRock, Michelin, BNP Paribas, and HSBC are all openly criticized for their role in deforestation. These companies have been linked to deforestation in the Brazilian Amazon, invested in companies that are involved in deforestation, consume rubber that is often grown in deforested areas, and lend to companies that are involved in deforestation. Additionally, these companies lack transparency and accountability on deforestation issues. As a result, they are facing pressure from investors, consumers, and NGOs to take action to address deforestation.

The ranking is based on comprehensive news sentiment analysis. Permutable AI's rankings serve as a valuable resource for investors, consumers, and stakeholders concerned about the ecological impact of major corporations. The company's commitment to transparency and data-driven insights aims to encourage positive change within the business landscape.

Wilson Chan, CEO of Permutable AI, stated, "The release of these rankings underscores the significance of environmental considerations in evaluating corporate practices. We believe that transparency and awareness can drive positive change, and we encourage companies to reassess and enhance their sustainability efforts."

Manuela Moollan, Sustainability Lead at Permutable AI, expressed, "At Permutable AI, we are committed to providing actionable insights that empower responsible business practices. These rankings provide a clear picture of corporate responsibility and offer an opportunity for companies to further prioritize sustainability in their operations and investments."

Talya Stone
Permutable AI
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