A group of 29 global investment firms that manage $3.7 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.
BRASILIA - A group of 29 global investment firms that manage $3.7 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.
The investors, led by Norwegian insurance and pension firm Storebrand Asset Management, sent letters to Brazilian embassies in seven countries, calling for meetings and expressing concern that Brazil is rolling back environmental protections, according to a statement that included a copy of the letter.
Environmental advocates blame Bolsonaro for weakening protections and causing a surge in deforestation and forest fires since he took office in 2019. The 25 European firms that signed on include Norway’s Nordea Asset Management and the Church of England, which has a 2.8 billion pound pension fund. The UK’s Legal & General Investment Management is among the largest investors with 1.2 trillion pounds under management.
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