On 8 September 2025, a report “Defending forests shouldn’t cost lives: Forest 500 assesses corporate zero tolerance policies,” links world’s top banks to social & environmental harms from mining
… Global Canopy’s annual Forest 500 assessment looks at six human rights criteria closely associated with preventing deforestation. Three indicators are interconnected with deforestation as violations of these rights frequently happen around the point of forest loss. They are: Free, Prior and Informed Consent (FPIC); zero tolerance for threats and violence against forest, land and human rights defenders; and customary rights to land, resources and territory.
Among them, zero tolerance is least likely to be addressed by companies: only 9% of the 500 companies assessed have a public commitment in place for at least one forest risk commodity. By comparison, 37% of companies have committed to FPIC, and 24% have commitments to respect the customary rights of IPLCs to land, resources and territory.
… Only 47 Forest 500 companies have commitments for zero tolerance. Companies in the palm oil (18%) and cocoa (14%) supply chains are more likely to have commitments. Commitments are scarce in the beef (10%), soy (11%) and timber (6%) sectors, although these industries are linked to abuses in Latin America. According to BHRRC, 40% of attacks against human rights defenders over the last decade took place in Latin America, with Brazil recording the highest number of killings worldwide.
… Only six of the Forest 500 companies publish evidence of due diligence and progress reporting on eradicating violence and threats f
The report focuses on financing for companies mining critical minerals used in the global energy transition, including lithium, nickel, graphite and cobalt. Nearly 70% of these transition mineral mines overlap with Indigenous lands and roughly an equal amount is in regions of high biodiversity.
“Our findings shed light on the central role that financial institutions play in enabling this new wave of destruction as companies rush to expand mining operations as rapidly as possible,” Steph Dowlen, forests and finance campaigner for the Rainforest Action Network, told Mongabay by email. “While this extraction for raw minerals falls under a ‘green’, ‘clean’ or ‘renewable’ banner, it’s still extraction and the mining sector remains high-risk, dominated by companies with egregious track records on rights, the environment and corporate accountability.”
The report assessed environmental, social and governance policy scores of 30 major financial institutions and found an average score of only 22%. Vanguard and CITIC scored the lowest, each with just 3%. The assessment found that many financial institutions lacked policies to prevent financing issues, including pollution, Indigenous rights abuses or deforestation.
Of all institutions assessed, 80% lacked policies on human rights defenders and none had safeguards for Indigenous peoples living in voluntary isolation. Many institutions (60%) lacked grievance mechanisms, which allow communities that have been negatively impacted by mining activities to seek justice. Also, 60% of institutions had no policies on tax transparency, which is key to preventing companies from shifting profits abroad and ensuring that mining revenues remain in the resource-rich countries.
“Due to the significant overlap with transition minerals and Indigenous Territories, and high-biodiversity areas, there is an immediate need for governments, financial institutions and mining companies to stop and listen,” Dowlen said. “Indigenous Peoples and local communities have been raising the alarm for a long time but continue to face disproportionate harm as well as violence and intimidation for defending their rights and their lands.”
BlackRock and JPMorgan Chase declined to comment on the report. None of the other institutions mentioned in this piece responded to Mongabay’s emails.
Hans Thoolen on Human Rights Defenders and their awards 