Reporting On Efforts to Eliminate Deforestation
Story from Parnassus.
Parnassus voted shares valued at more than $369 million in favor of a resolution asking the company to issue a report on its efforts to eliminate deforestation. The resolution was supported by 68% of shareholders.
Why it matters: Procter & Gamble harvests palm oil and forest pulp. Rainforests are cleared to make way for palm trees, significantly increasing global greenhouse gas emissions, biodiversity loss, soil erosion, disrupted rainfall patterns, land conflicts, and forced labor. According to the resolution, in 2019, two of Procter & Gamble's top-tier suppliers were implicated in illegal deforestation.
Note that all fund impact stories are sourced from the fund manager and have not been independently verified by Ethos. You can view the source of this story here.
