Three important pieces of legislation were introduced in the 2022 legislative cycle in the U.S. at the federal and state levels that would work together in complementary and powerful ways to reduce deforestation and human rights abuses in U.S. supply chains and set important precedents for improving global norms. We gained strong investor support for these letters last year, and will be mobilizing investors again. We urge you to sign on to indicate your interest in signing on to new letters in support of expected bills to address deforestation next legislative cycle.
The FOREST Act (S.2950/H.R.5508), introduced in Congress in 2021 with bipartisan support, would prohibit agricultural commodities entering the U.S. market from being sourced on land that was illegally deforested and require traceable supply chains. The U.S. would provide support to producing countries to improve governance and promote sustainable production.
Complementing these federal measures, public procurement laws were proposed by California and New York legislators. These would require products purchased by state governments to be deforestation-free and respect human rights, shifting demand to responsibly sourced products in two globally significant markets.
While the California and New York bills did not pass in 2022, legislators are working to address the concerns from last cycle. We are optimistic that they will gain positive momentum in the coming year. Many investors supported the bills in the past (thank you!), and we hope you will join us in supporting them again this year.
Through better regulation of U.S. imports and consumption of global forest-risk commodities, the three bills are an important step towards meeting the commitments made by the U.S. alongside over 100 governments at the most recent Climate COP in Glasgow to end deforestation and land degradation by the end of the decade. The legislation would also level the playing field for leaders in this space who have already begun applying due diligence measures to address deforestation risk.