An aerial view shows deforestation near a forest on the border between Amazonia and Cerrado in Nova Xavantina, Mato Grosso state, Brazil on July 28, 2021.The world's largest financial institutions increased their backing of companies in the agriculture, forestry and land use sectors most responsible for deforestation in 2021, a new study showed on Tuesday .
The analysis comes ahead of the next round of global climate talks in November at which protection of rainforests and other climate-crucial biodiversity are set to be a central theme. "The world's financial institutions are actually increasing their lending to the very industries driving humanity to the brink," Tom Picken, director of Rainforest Action Network's Forest and Finance Campaign, said in a statement, citing 'dangerously inadequate' policies.