Fidelity Needs a No Deforestation Policy

Fidelity Investments

Tropical rainforests are home to the world’s greatest biodiversity, to millions of indigenous peoples, and are essential to maintaining a stable climate. Today, our rainforests are facing greater threats than ever – and the investors like Fidelity that are complicit in the destruction are dragging their feet.

Urge Fidelity to adopt a No Deforestation Policy!

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 land for industrial plantation agriculture is also a leading cause of violent land conflicts.

Fidelity has huge investments in companies like Bunge, Noble Group, Golden-Agri Resources and Resolute Forest Products that grow, trade or use palm oil, beef and soy in their products but have failed to eliminate deforestation and human rights abuses from their operations. This means Fidelity 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, Fidelity needs a high-level policy to set the course.

Tell Fidelity to adopt a No Deforestation Policy!

As one of the world’s largest fund managers, Fidelity can play a crucial role in averting catastrophic climate outcomes, and instead financing the transition to a livable planet. But Fidelity won’t do it without pressure from us.

Urge Fidelity to adopt a No Deforestation Policy!

Petition by
As You Sow
OAKLAND, California

To: Fidelity Investments
From: [Your Name]

Dear Fund Manager,

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, as well as an epidemic of land conflicts and widespread abuses of the rights of indigenous peoples. As an investment firm that holds millions of dollars in shares in the agribusiness companies most responsible for devastating our rainforests, these issues expose you and your clients to a host of material risks.
Environmental and human rights impacts – and climate impacts above all – are increasingly recognized to drive material risks to investment. Awareness of these risks is growing quickly within the financial sector – and now is the time for you to get on board.

Leading responsible investment firms have begun to develop comprehensive policies to address deforestation risk, and I believe Fidelity needs to do the same. It is both a moral and an economic imperative. You have tremendous power – and the world needs you to start using that power responsibly. I urge you to adopt a strong deforestation risk policy across all your portfolios.

Thank you.