US$4 trillion fund holders tell Brazil to halt deforestation

Environmentalists warn 2020 is on track to be the most destructive year ever for the world's biggest rainforest. PARIS: Investment funds managing close to US$4 trillion in assets called on Brazil on Tuesday to halt deforestation of the Amazon in an open letter warning that biodiversity loss and carbon emissions pose a"systemic risk" to their portfolios.

Activists accuse Brazil's President Jair Bolsonaro, a far-right climate change sceptic, of emboldening those responsible for deforestation with calls to legalise farming and mining on protected lands. Corey Klemmer, director of engagement at letter signatory Domini Impact Investment, said that his firm was"acutely concerned" about deforestation.

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Global investors managing $5.2 trillion demand to meet Brazil diplomats over deforestationBRASILIA (REUTERS) - A group of 29 global investment firms that manage US$3.7 trillion (S$5.2 trillion) are demanding meetings with Brazilian diplomats around the world to call on right-wing President Jair Bolsonaro's government to stop soaring deforestation in the Amazon rainforest.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »