Global businesses sourcing commodities such as cattle, soybeans or rubber stand to lose some $53 billion due to deforestation unless they take action.
In a survey of more than 500 global businesses, climate-disclosure platform CDP identified risks such as extreme weather, changes in consumer preferences, as well as market and reputational impacts from commodity-related forest loss. It would cost $6.6 billion in the coming years to address those risks, the London-based nonprofit said in a report Monday.
