Halt financing of deforestation-recommendations for Brazilian banks
Halting financing fueling deforestation in the Amazon and Cerrado – Recommendations for Brazilian banks
Tuesday, October 27, 2020
Fair Finance Guide Brazil Analysis – October 2020 Summary
From a national perspective, Fair Finance Guide Brazil analyzed three studies, developed by the Fair Finance International (FFI) network from August to October 2020 which reveal that financial institutions in the Netherlands, Germany and Norway invested more than US$ 11 billion in 26 leading Brazilian agribusiness, wholesale and retail companies, selected from companies that operate with high risk of involvement with deforestation in the Cerrado (Brazilian savannah ecoregion) and in the Amazon, in the meat and soy sectors.
Fair Finance Guide Brazil recommends seven steps for Brazilian financial institutions to provide meaningful progress in their measures to contain investments that may be linked to deforestation