Funding destruction of the Amazon and Cerrado-savannah
Funding destruction of the Amazon and Cerrado-savannah: Deforestation risks in soy and beef supply chains
Wednesday, August 26, 2020
New research by the Fair Finance Guide Netherlands shows that banks, insurance companies and pension funds in the Netherlands are contributing to rampant deforestation in one of the world's most threatened eco-systems.
Major banks, including ING and Rabobank, have lent more than 10.2 billion euros between 2015 and 2020 to 59 companies involved in deforestation in the Amazon and Brazil's Cerrado savanna. Meanwhile pension funds and insurers such as ABP and Allianz also invested 2.1 billion euros.
This report comes from new research by the Fair Finance Guide Netherlands led by World Animal Protection and in collaboration with Hivos and Both ENDS.