Deforestation Action Tracker

Deforestation Action Tracker logo

There is no solution to climate change without an end to deforestation. And financial institutions have a vital role to play in ending deforestation through their finance and lending.

At COP26, 557 financial institutions made a commitment to net zero through GFANZ and Race to Zero. 

In 2022, we conducted a review of these 557 financial institutions to create a baseline.

In November 2023, we published findings from our first full assessments of 713 financial institutions. 

2023 methodology

In 2023, Global Canopy assessed over 700 members of GFANZ and Race to Zero on the strength and implementation of their policies on deforestation, conversion and associated human rights abuses.

Financial institutions were assessed on their policies on cattle products (beef and leather), palm oil, soy and timber products (pulp and paper and timber ) in a comprehensive update to the 2022 baseline review.

Only information which was publicly available on the financial institutions’ websites during the review period was considered for the 2023 Deforestation Action Tracker assessments.

The Deforestation Action Tracker methodology is aligned with the 2023 Forest 500 financial institution assessment methodology and with the best practice defined by the Finance Sector Roadmap, which is aligned with the Accountability Framework and endorsed by the Accountability Framework initiative (AFI).

We shared the Deforestation Action Tracker assessments with financial institutions prior to the launch of the dataset in November 2023.

If you have any questions, please contact [email protected].

The Deforestation Action Tracker 2023: an essential stocktake of finance sector action on deforestation

Our 2023 report, ‘The Deforestation Action Tracker 2023: An essential stocktake of finance sector action on deforestation’ was based on the assessments of over 700 financial institutions on their action on deforestation, conversion and associated human rights abuses.

The report included recommendations for financial institutions to move forward urgently with their action on deforestation, and for GFANZ and other net-zero coalitions to require progress reporting.

The 2023 Deforestation Action Tracker data

The data collected as part of the 2023 Deforestation Action Tracker is publicly available to download here.

For each assessment, the assessment team collected a quote from the financial institution’s website, alongside the link to the relevant page(s), and any relevant extra details that are available. All of this information is included in the data download.

You can find the 2023 methodology here.

Please get in touch at [email protected] if you have any questions.

This project was financially supported by Nature4Climate and Norad.

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