Summary 1,043 companies report on deforestation to CDP in 2022Less than 10% have a 'robust' plan to end it by 2025Collective $80 bln hit flagged by 269 companiesLONDON, July 6 (Reuters) - The number of companies reporting on their management of deforestation risk has risen 300% over the last five years, yet most have no plan in place to stop it, environmental disclosure platform CDP said on Thursday.
A total of 1,043 companies responded to an annual survey by CDP covering their operations in 2022.
Of those to report, 269 firms estimated the potential cost of leaving risks unaddressed at almost $80 billion combined, or an average of $300 million per company, CDP added.
Estimates on the cost of responding to risks from 342 companies totalled $5.9 billion or an average of $17.4 million each.
Thomas Maddox, Global Director, Forests and Land Use at CDP, said the "record-breaking" year for disclosures was encouraging for transparency.
Persons:
Thomas Maddox, Maddox, Simon Jessop, Emma Rumney
Organizations:
Global, European Union, Britain, Companies, Thomson
Locations:
Montreal