European financing fueling the climate crisis

A year ago in August 2019, “Dia do Fogo” or ‘Day of Fires’ put the Brazilian Amazon in the headlines around the world and caused international alarm. The fires that raged throughout August and September contributed to the deforestation of up to 1.2 million hectares in 2019 alone - more than 60% of that being in the Amazon alone. Since that day, deforestation alerts in the Amazon have grown 34.5%.

The Fair Finance International (FFI) network carried out three large studies analyzing how much money is really being invested in companies with a high risk of involvement in deforestation in the Brazilian Amazon and Cerrado.

By bringing together data from financial institutions active in Germany, Norway and the Netherlands FFI revealed billions in investments in these companies. Read more

 

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