Every year, the world loses an area of tropical rainforest the size of the United Kingdom.
Massive deforestation to clear land for palm oil, pulp and paper, soy, rubber, timber and cattle is responsible for almost one quarter of all global greenhouse gas emissions. Corporate control of f land for industrial plantation agriculture is also a leading cause of violent land conflicts, as these activities dispossess and displace local communities.
T. Rowe Price has huge investments in companies like Sysco, Tyson, Hormel and Sumitomo Rubber that grow, trade or use palm oil, beef, rubber and soy in their products but have failed to eliminate deforestation from their operations. This means T. Rowe Price has a key role to play in voting for No Deforestation policies at these companies and engaging with company management to make sure these policies are implemented.
In order to do that, T. Rowe Price needs to get its own house in order.