work starts on forestry codeDecember 2003
The World Bank is to help write guidelines for businesses on sustainable forest management.
The guidelines, to be produced with the international conservation body WWF and the World Business Council for Sustainable Development, will advise companies on investing in sustainable forestry and forestry products. They are also likely to suggest how best to harmonize existing certification systems.
The move follows a two-day Forest Investment Forum hosted by the World Bank in Washington DC. After the meeting the bank said it would look at creating ‘investment guidelines and safeguards’ to help companies make progress on sustainable forest management and would seek ways of developing ‘credible third-party verification’ of company performance.
At the forum, attended by nearly 150 senior executives of forest product companies, private and public sector financial institutions and conservation bodies, the bank urged companies to embrace sustainable practices or risk creating huge environmental and social upheaval.
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