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Insight 21 March 2023

Beyond forests: traders face EU regulatory risks from soy expansion in Brazil

Soy traders are more exposed to the conversion of Brazil’s savannah and grassland habitats than they are to forests. As the EU considers including other ecosystems in its new due diligence legislation, Trase analysis reveals which traders face the biggest regulatory risks.

By Mark Titley, and Tiago Reis
Brazil Soy
stock value deforestation
Insight 6 February 2023

The business case for financial due diligence on deforestation risks

Deforestation is increasingly recognised as a material risk to banks and investors. Without due diligence to manage exposure to deforestation, financial institutions are in danger of regulatory enforcement, reputational damage and financial losses.

By Josh Brewer
Brazil soy processing site
Insight 31 January 2023

How supply chain ‘stickiness’ drives deforestation

Trase researchers have made a significant contribution to understanding how the stability or volatility of trading relations in commodity supply chains can affect deforestation. The findings could be used to inform the development of EU ‘due diligence’ legislation.

By Tiago Reis,, Patrick Meyfroidt, and Vivian Ribeiro

Brazil soy
Insight 20 December 2022

Brazilian soy and deforestation: challenges and opportunities

A Trase webinar to launch new data on soy production in Brazil discussed the EU ‘due diligence’ regulation, China’s role as key export market and a risk-based approach to reducing deforestation.

Brazil soy
Explainer 7 December 2022

Connecting exports of Brazilian soy to deforestation

While the rate of deforestation and land conversion driven by the expansion of soy production in Brazil has slowed, the Amazon and Cerrado continue to be cleared despite zero-deforestation commitments made by soy traders, according to Trase data for 2019-2020. Land clearance in the Pampas grasslands is accelerating to meet growing demand for soy, including from China.

By Tiago Reis, and Yan Prada Moro
Unloading sacks of cocoa at Abidjan port, Ivory Coast
Insight 10 November 2022

Cocoa exports drive deforestation in Côte d’Ivoire

Commodity traders Cargill, Olam, Barry Callebaut and Touton are exposed to high levels of deforestation in Côte d’Ivoire (Ivory Coast), where 2.4 million hectares of forest has been cleared in the past two decades primarily to produce cocoa for Europe’s chocolate manufacturers.

By Cécile Renier
A herd of cattle driven by a cowboy
Insight 12 October 2022

The challenges of investor engagement in Paraguay

New data on the deforestation risks associated with the beef and soy sector in Paraguay could help inform due diligence and engagement activities by banks and investors.

By Ben Levett
Workers harvesting palm fruit in Indonesia // First Resources, Shutterstock
Insight 28 September 2022

Can Indonesia continue to reduce palm oil deforestation?

Indonesia has achieved a dramatic reduction in deforestation linked to palm oil production, new research by Trase shows. But further measures will be needed to continue progress as China sources increasing amounts of palm oil with a higher deforestation risk.

By James Richens
Cleared land in central Kalimantan, Indonesia, 2019
Explainer 14 September 2022

Indonesia makes progress towards zero palm oil deforestation

Indonesian deforestation for palm oil has declined significantly, with the greatest falls occurring in supply chains governed by zero-deforestation commitments. However, rising palm oil prices and the growing role of traders who have lower levels of public transparency threaten to undermine progress.

By Robert Heilmayr, and Jason Benedict
Burning Forest in the Amazon, Marcelândia, MT
Guest blog 13 September 2022

Land governance is key to reducing deforestation

Agriculture is by far the most important cause of deforestation, yet cleared land is often not used to grow crops or raise livestock, according to new research. The findings have important implications for policymakers hoping to clean up supply chains for commodities such as soy, beef and palm oil.

By Florence Pendrill,, Toby Gardner,, Patrick Meyfroidt, and Martin Persson
Soy plantation in Santa Fe Province, Argentina (Credit: Jopstock/Adobe Stock).
Insight 22 August 2022

Opportunities for deforestation-free sourcing in Argentina

Trase data can help soy traders in Argentina tackle deforestation risks and maintain access to export markets.

By Tiago Reis
Soy production in Argentina (Credit: Giuliana/Adobe Stock)
Explainer 11 August 2022

Argentina: The overlooked hub of South American soy

New Trase data on Argentina’s soy supply chain highlights how indirect soy supply in South America could be hiding deforestation in global supply chains.

By Michael Lathuillière
Cueiras river, Amazonas State
Case study 1 August 2022

Supporting France’s plan to increase transparency over deforestation

Trase worked with the French government to support the implementation of its strategy to end deforestation linked to imports of agricultural commodities.

fanjianhua / Shutterstock
Insight 17 July 2022

How forest-friendly are ESG funds?

Over 400 ESG funds run by asset managers such as Blackrock, State Street and Northern Trust are financing commodity traders who are linked to deforestation, according to analysis by Trase Finance.

By Ben Levett
Palm oil tree plantation in South Sulawesi, Indonesia
Guest blog 27 June 2022

From risk hotspots to sustainability sweet spots

How Trase and SourceUp can power credible landscape-level sustainability action.

Discovery 22 June 2022

Key sources of deforestation risk for Europe revealed

By Mark Titley
Truck loaded with soy beans, Mato Grosso
Insight 15 June 2022

Germany prepares for EU law on deforestation-free imports

Companies in Germany will be better able to prepare for EU ‘due diligence’ legislation on deforestation-free supply chains due to Trase analysis that highlights hotspots of risk.

Soy plantation
Explainer 14 June 2022

Approaches to assessing commodity-driven deforestation

An explanation of two different methods used by Trase and Pendrill et al (2022) to assess deforestation linked to agricultural commodity production.

By Chris West
Freight trains in Germany
Explainer 13 June 2022

How to measure a country’s imported tropical deforestation risk

Examining the merits of three approaches to analysing commodity-driven deforestation risk: direct trade, re-export-adjusted trade and consumption-based accounting.

By Mark Titley
Soy beans being harvested in Mato Grosso, Brazil
Insight 13 June 2022

Assessing Germany’s soy deforestation risk

A new Trase study finds that Germany is exposed to deforestation risk from Brazilian soy embedded in processed products and imported through intermediary countries.

By Chris West, and Mark Titley
Cerrado landscape
Insight 7 June 2022

EU urged to widen deforestation law

A narrow focus on protecting forests could increase pressure on other ecosystems in South America where most of the EU’s commodity-driven deforestation exposure is found.

By James Richens
Oil palm fruits with workers in background
Insight 8 May 2022

Action needed to address indirect sourcing 'blindspot'

Traders, food manufacturers, retailers and governments must take action to reduce the deforestation risks associated with indirect – and often unknown – sources of commodities, according to new research.

By Erasmus zu Ermgassen
Soy field in Sao Paulo, Brazil
Case study 26 April 2022

Understanding soy deforestation risk in leather products

A group of luxury fashion brands asked Trase to identify hotspots of deforestation risk in their supply chains for leather – not from cattle farmed in high-risk areas, but from soy present in animal feed.

Port in Hamburg
Insight 15 March 2022

Strengthening the EU regulation on deforestation-free products

Implementation of the draft regulation could be improved by using robust risk assessment to target action on areas threatened most by deforestation.

By James Richens
Cocoa farm workers in Côte d’Ivoire
Insight 15 December 2021

Chocolate companies face deforestation risks from unknown cocoa supplies

A lack of transparency about deforestation in the cocoa supply chain is creating reputational and regulatory risks for commodity traders and chocolate manufacturers.

By Erasmus zu Ermgassen
Soy processing facility in the Brazilian Cerrado
Insight 13 December 2021

Deforestation-risk green finance – more khaki than emerald

Trase assesses the pros and cons of recent moves into green finance by commodity traders.

By Ben Levett
COP26 climate conference Glasgow
Insight 8 December 2021

Moving beyond commitments : How to start eliminating deforestation from investor portfolios

Investors need to understand deforestation-risk exposure in their portfolios to inform effective engagement activities and deliver on COP26 pledges.

By James Phare
Soy farming Brazil
Explainer 18 November 2021

Trase enhances life cycle assessment with ‘commodity supply mix’

New research by Trase assists LCA practitioners by providing more regionally relevant data on the environmental impacts of agricultural commodities.

By Michael Lathuillière, and Chris West
soy farm animals
Insight 9 November 2021

Missing deforestation-risk products undermine EU’s due diligence proposal

Trase analysis of the EU’s draft due diligence regulation finds that the proposal fails to account for more than half of the bloc’s deforestation risk from imports of soy due to its exclusion of soy used in animal feed.

By Helen Bellfield, and Osvaldo Pereira
Deforestation on Brazilian soy plantation
Insight 27 October 2021

COP26 must commit to eliminating deforestation

World leaders attending the UN climate talks in Glasgow must commit to stopping commodity-driven deforestation if they are to prevent climate catastrophe.

By Vivian Ribeiro
Forest fires in Mato Grosso State, Brazil
Case study 18 October 2021

Storebrand Asset Management deforestation risk assessment

Trase worked with Storebrand Asset Management to demonstrate how investors can identify and assess deforestation risk in their portfolios to inform engagement and divestment activities.

Canary Wharf, London
Insight 14 September 2021

Trase highlights UK’s role in financing deforestation

UK financiers provided over £40 billion to companies at risk of causing deforestation in Brazil and Indonesia through their trade in beef, soy and palm oil, according to analysis by Trase Finance.

By James Richens
Woman looking at sanitary food label
Insight 31 August 2021

Trase launches beef app to empower consumers in Brazil

Trase has launched a new smartphone app that informs supermarket customers in Brazil about the environmental and social performance of the meat products that they purchase.

By James Richens
Aerial city view
Insight 5 July 2021

Exploring the investor types with most significant levels of deforestation risk exposure

New data on deforestation risk exposure builds the case for investors elevating deforestation in their risk management priorities.

By Helen Bellfield
Gauchos in Paraguay
Explainer 20 June 2021

High deforestation risk for beef from the Paraguayan Chaco

None of Paraguay’s beef exports in 2019 were covered by a zero-deforestation commitment, despite high deforestation risk in the Dry Chaco.

By Maria Tyldesley
Soy field in Paraguay
Explainer 20 June 2021

Soy deforestation risk in Paraguay continues despite decline

Countries importing soy produced in Paraguay’s Atlantic Forest biome are still exposed to illegal deforestation risk, despite a large fall in the rate of deforestation.

By Maria Tyldesley
Harbour in Hamburg
Insight 13 April 2021

Trase data highlights EU's role in deforestation

Trase research is an important part of a new WWF report into tropical deforestation associated with EU agricultural commodity imports.

By James Richens
Cocoa pods in Ghana
Explainer 10 March 2021

Mapping cocoa exports from Côte d’Ivoire and Ghana

New Trase data reveals the companies which export cocoa from Côte d'Ivoire and Ghana, and the countries which import it.

By Erasmus zu Ermgassen
Discovery 9 March 2021

Coronavirus drives US beef imports from Amazon

By Erasmus zu Ermgassen
Peatland forest clearance in Kalimantan
Insight 23 February 2021

Indonesia's pulp exports linked to widespread fires on peatlands

Over 40% of Indonesia’s pulpwood is grown on drained peatlands, causing significant carbon emissions and health risks from catastrophic fires.

Deforestation in West Kalimantan
Insight 23 February 2021

Indonesia pulp sector’s progress on deforestation hangs in the balance

Despite declining rates of deforestation, past clearing and future supply risks pose ongoing challenges for the Indonesian pulp sector’s sustainability.

Forest Fires in Central Kalimantan
Explainer 16 February 2021

Bringing a new level of transparency to Indonesia's pulp exports

The Indonesian pulp sector has reduced deforestation, but remains dependent on carbon-intensive peatland plantations.

Storm over a soy plantation
Insight 13 January 2021

How Brazil’s soy traders can identify climate risks

New research combining Trase data and climate change projections could help soy traders understand and manage their risk exposure.

By Emilie Stokeld
Tree outline
Insight 24 November 2020

Creating a sustainable jurisdiction for agriculture and conservation

The case of the Produce, Conserve, Include (PCI) initiative in Mato Grosso, Brazil.

By Daniel Meyer, and Paula Bernasconi
Canary Wharf at night
Insight 3 November 2020

Investors welcome ‘powerful tool’ to manage deforestation risk

Investors have a powerful new tool to identify hotspots of deforestation risk in their portfolios, improve how they measure ESG performance and create innovative green products.

By James Richens
Cityscape
Explainer 6 October 2020

How financial institutions are exposed to deforestation risks

Financial institutions can be directly or indirectly exposed to deforestation risks by their financing of forest risk commodity traders.

Abstract data representation
Explainer 6 October 2020

How data helps investors target deforestation risk management

New data on deforestation risk exposure helps investors identify the risk hotspots in their portfolios, enabling more focused risk management efforts.

Discovery 6 October 2020

Minerva shareholder data illustrates improved deforestation financing transparency

White-cheeked spider monkey
Insight 13 September 2020

Trase data can help tackle global extinction crisis

As shown on the BBC’s Extinction: The Facts, Trase is enabling targeted action that is making a real difference. Greater regulatory pressure and private sector leadership is now needed.

By Toby Gardner
Soy plantation
Insight 12 September 2020

Spotlight on Brazilian soy exports to France

High concentration of soy-related deforestation-risk in a handful of companies and municipalities offers an opportunity for a targeted approach by France and other European countries.

By Thomas Sembres, and André Vasconcelos
Satellite imagery of deforestation in the Chaco in Paraguay
Explainer 12 September 2020

Delivering transparency for sustainable agriculture in Paraguay

Paraguay’s Chaco region has one of the highest rates of deforestation in the world. Trase’s research into the soy and beef supply chain is helping to bring much-needed transparency.

Map of Colombia
Insight 11 September 2020

How to protect Colombia's forests as global demand for coffee soars

Trase’s new Colombian coffee supply chain data could play a valuable role in managing future deforestation risks from coffee expansion posed by climate change and international demand.

By Caspar Trimmer, and Allie Goldstein
Meat market
Insight 6 September 2020

China’s imported deforestation risk from Brazilian beef imports

Through targeted engagement with a handful of traders and local governments, China could significantly reduce risks associated with its Brazilian beef imports.

By Helen Bellfield
Discovery 1 July 2020

Carbon emissions vary widely between producer regions

Discovery 1 July 2020

Minerva dominates market share and deforestation risks

Discovery 1 July 2020

Global meat consumption linked to Cerrado biodiversity risks

Discovery 1 July 2020

Argentina crushing capacity drives up imported soy deforestation risk in 2018

Cargo ship
Insight 1 July 2020

A breakthrough in carbon footprinting for agricultural commodities

New study provides detailed breakdown of emissions sources for Brazilian soy exports, with relevance for other agricultural commodities as well as climate policy discussions.

Discovery 1 July 2020

Illegal deforestation and Brazilian soy: the case of Mato Grosso

Discovery 1 July 2020

Highly segregated flows of Argentinian soy cake, oil and bean exports

Discovery 1 July 2020

Live cattle have highest deforestation risk of Brazil's exported cattle products

Line chart depicting land use in the Amazon
Insight 1 July 2020

Indirect land-use change deforestation linked to soy threatens prospects for sustainable intensification in Brazil

Despite the success of the Amazon Soy Moratorium in reducing direct conversion of forest to soy, the crop is indirectly linked to deforestation via the displacement of cattle pasture.

Discovery 1 July 2020

Low vertical integration of dominate palm oil traders brings transparency challenge

Discovery 1 July 2020

Brazilian pork exports carry low direct deforestation risk

Cupped hands holding beans
Insight 1 July 2020

New entrants challenge ABCD traders in Paraguayan soy export trade

The major "ABCD” multinational grain traders – ADM, Bunge, Cargill and Louis Dreyfus – dominated the Paraguayan export market in 2014, handling more than two thirds of the country’s soy exports that year (64%).

Discovery 1 July 2020

Shedding light on Indonesia’s opaque palm oil mills

Cattle in the Amazon
Insight 1 July 2020

Lifting of import bans increases deforestation risk

US companies’ exposure to deforestation risk is set to increase steeply after the US government lifted restrictions on imports of fresh and frozen beef from Brazil in March 2020.

Discovery 1 July 2020

Slaughterhouse approvals could increase China’s beef deforestation risk exposure in Brazil

Discovery 1 July 2020

Labour rights and Paraguayan beef exports

Cattle in a field
Insight 29 March 2019

Carbon emissions from tropical deforestation largely driven by consumption in Europe and China

New study finds between 29% and 39% of all CO2 emissions related to tropical deforestation were linked to exported agricultural and forestry commodities.

EU flags
Insight 4 March 2019

EU must embrace transparency to meet deforestation goals

The EU needs to improve transparency of its forest-risk commodity imports to help reduce its impacts on tropical deforestation.

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