2023 FOREST DECLARATION ASSESSMENT

This document consists of annexes to the 2023 Forest Declaration Assessment, detailing sustainability schemes in the mining sector, sources and estimates of forest-related finance, and the implementation of green budgeting and risk assessment tools in the public sector.

• Several sustainability schemes target the mining and processing sectors to mitigate biodiversity and forest loss. For mining and processing specifically, the International Council on Mining and Metals (ICMM)’s Mining Principles are adopted by 12 of the top-20 companies, requiring them to avoid World Heritage Sites and apply a mitigation hierarchy. The Mining Association of Canada (MAC)’s Toward Sustainable Mining (TSM) is adopted by 8 of the top-20 companies and includes a Biodiversity Conservation Management Protocol. The Initiative for Responsible Mining Assurance (IRMA) Standard for Responsible Mining is adopted by 2 of the top-20 companies and requires social and environmental impact assessments covering cumulative impacts on biodiversity and protected areas, as well as the free, prior and informed consent (FPIC) of Indigenous Peoples.
• Sustainability standards also apply to the broader supply chain. The ResponsibleSteel International Standard V2.0 (launched in 2022) requires sites to implement a plan for biodiversity risk management aiming for no net loss. The Responsible Minerals Assurance Process (RMAP) of the Responsible Minerals Initiative (RMI) includes requirements for avoiding impacts to forests, biodiversity, and protected areas. For the entire supply chain from mine to manufacturing, the International Finance Corporation (IFC)’s Performance Standard 6 focuses on habitat loss, degradation, fragmentation, and pollution. The Responsible Jewelry Council (RJC)’s Code of Practices requires assessments of environmental, social, and human rights impacts, and the Aluminum Stewardship Initiative (ASI) Performance Standard V3.1 (2023) requires companies to mitigate biodiversity impacts within their area of influence.
• Global forest finance needs to achieve Paris Agreement goals are estimated between USD 45 billion and 460 billion annually. Actual finance flows vary by type: public international climate-related mitigation finance for forests averaged USD 9.5 billion (cumulative 2010–2021), while public international REDD+ finance averaged USD 6.9 billion (cumulative 2010–2022). Public domestic REDD+ finance from 16 countries averaged USD 10.1 billion. No comprehensive data is available for general private finance.
• Significant 'gray finance' exists that may risk forests. Private finance to forest-risk commodity supply chains (beef, soy, palm oil, pulp and paper, rubber, and tropical timber) totaled USD 343 billion (cumulative 2010-2022), averaging USD 26.4 billion annually. Private grey finance to 23 mining companies in the three largest tropical forest regions totaled USD 99 billion (cumulative 2016-2022), averaging USD 14.1 billion annually. Additionally, annual gray public finance via agricultural subsidies is estimated between USD 378 billion and USD 635 billion per year, with reports indicating these subsidies can encourage deforestation and the overuse of natural resources.
• Public sector tools for green budgeting and risk assessment are emerging. Green taxonomies implemented in 2022 in the EU and Colombia provide technical screening criteria for forest-related activities to avoid deforestation-related investments. Furthermore, financial regulators in the Netherlands, France, Brazil, Malaysia, and Chile are beginning to embed biodiversity loss and ecosystem degradation risks into their decision-making processes.

APA

Forest Declaration Assessment (2023). 2023 FOREST DECLARATION ASSESSMENT. https://forestdeclaration.org/wp-content/uploads/2023/10/2023Annexes2and3-1.pdf

Chicago

Forest Declaration Assessment. 2023 FOREST DECLARATION ASSESSMENT. 2023. https://forestdeclaration.org/wp-content/uploads/2023/10/2023Annexes2and3-1.pdf.

Wikipedia

{{cite report |author=Forest Declaration Assessment |title=2023 FOREST DECLARATION ASSESSMENT |date=2023 |url=https://forestdeclaration.org/wp-content/uploads/2023/10/2023Annexes2and3-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{forestdeclarationassessment20232023, author = {{Forest Declaration Assessment}}, title = {{2023 FOREST DECLARATION ASSESSMENT}}, institution = {Forest Declaration Assessment}, year = {2023}, url = {https://forestdeclaration.org/wp-content/uploads/2023/10/2023Annexes2and3-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }