Using Forest 500 deforestation data to build transparency

“Forest 500 data is a good jumping-off point for our investigations – it helps identify companies with certain policy commitments on deforestation risk. That gives us something to hold companies accountable for,” said Rob Soutar, Environment Editor at the Bureau of Investigative Journalism at a recent Global Canopy webinar. 

The session explored how journalists and researchers use Forest 500 open access data to drive transparency and accountability in deforestation-linked supply chains.

The role of data in tackling deforestation

Data plays a crucial role in addressing deforestation. Satellite data provides evidence of forest loss; supply chain data shows the actors involved; and financial data indicates which banks fund the companies with the greatest exposure to deforestation risk. Global Canopy publishes open access data on how companies and financial institutions address their links to deforestation to promote transparency and accountability, thus motivating and enabling action by commodity buyers, financiers, and governments. 

Now in its 11th year, Global Canopy’s annual Forest 500 data project assesses the most influential companies and financial institutions in the deforestation economy. The project assesses and ranks 500 companies and 150 financial institutions on their commitments and reporting on deforestation, ecosystem conversion and associated human rights abuses. The open access data is a key source for journalists and researchers investigating deforestation.

“Companies are assessed using only publicly available information,” said Emma Thomson, Forest 500 and Tracking Lead. The Forest 500 team collects over 200,000 data points to assess companies on deforestation, ecosystem conversion and associated human rights abuses. “Companies can comment on their assessments if they wish, but only in reference to publicly available information,” Emma explained. “We push for transparency in the data we collect.”

The Forest 500 data is easy to view and download. This three-minute video shows how to screen the data by company name, headquarters, industry segment and commodity exposure: 

Open access data is key as companies step back from voluntary disclosures

Transparent data is essential for investigative journalists. Heather Clancy, Editor at Large at Trellis Group, who has used Forest 500 data for more than five years, also noted its value in an era of “greenhushing”: “I have very limited resources, so I rely on independent research to help validate corporate claims, especially now, when companies are greenhushing and stepping back from making voluntary disclosures.”

Spotting new trends 

Heather explained that she uses the Forest 500 data to spot trends – like which financial institutions support high-risk companies like JBS, the Brazilian meatpacker. As JBS lists on the New York Stock Exchange, Heather warned: “Investors need to understand the risks of this strategy, how it could impact future growth, and the damage it’s doing.” 

The inclusion of three new commodities – cocoa, coffee and rubber – in the 2025 dataset has opened new avenues of investigation for Heather. She noted that the apparel and automotive industries are highly exposed to rubber: “There’s an opportunity for me to go deeper into what Michelin is doing as a case study.” 

Dr Katalin Csatadi, Researcher and Writer at Ethical Consumer, explained how the data feeds into the organisation’s ratings and guides: “We use Forest 500 data in our rankings of banks and financial institutions, including for our Ethical Bank Accounts guide and sector-specific guides. We look at lending policies, loans and investments using the Forest 500 data and adjust scores accordingly. At the very top of our current accounts guide, we have Triodos Bank. They are transparent. They have the right policies and the right actions. The lower you go, the more you see the more common names: HSBC, Lloyds and Natwest.”

A tool to drive change

The panellists agreed that Forest 500 is not just a source of data, but a means of strengthening accountability and enabling action. “Investors have massive influence on what companies do – but consumers have a role too,” Katalin noted. “We firmly believe that bottom up is a strong way to go.” 

Rob concluded that “the data will help arm us with the tools we need to make the change.”

Watch the full video

This article was written using quotes taken from a Global Canopy webinar moderated by Rob Soutar, Environment Editor at The Bureau of Investigative Journalism. It was originally published on the Forest 500 website.