The company states on its website that it is working to eliminate deforestation in its supply chains and to protect high carbon stock forest, valuable conservation areas, and peatlands. In addition, the company is a member of the Roundtable for Responsible Soy (RTRS) and a participant in the Amazon Soy Moratorium.
Yet Glencore Agriculture’s approach lacks several features specified in The Accountability Framework, a set of common norms and guidance for establishing, implementing, and monitoring ethical supply chain commitments in agriculture and forestry. In particular, the company’s approach does not prohibit conversion of non-forested natural ecosystems, specify the scope of its commitments or describe verifiable actions or time-bound targets, establish an effective company grievance mechanism, or require that it report on annual progress, implementation actions and outcomes. Glencore PLC (49.99 percent), the Canada Pension Plan Investment Board (39.99 percent) and the British Columbia Investment Management Corporation (9.99 percent) are the top three shareholders.