Brazilian companies join call for action on Amazon deforestation [Reuters]
Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) (ITUB)
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Source: Reuters
Brazilian companies join call for action on Amazon deforestation BRASILIA (Reuters) - A group of 39 companies, including several of Brazil’s largest firms, expressed concerns over deforestation in the Amazon rainforest on Tuesday, following global investor demands that President Jair Bolsonaro end the destruction or risk divestment. While weaker than the threats from the global investment firms, the joint statement is the first from such a broad and powerful group of Brazilian companies since Bolsonaro became president, and signals that corporate pressure for action is building within the country. The rate of destruction of Brazil’s Amazon rainforest climbed 34% in the first five months of the year from a year ago after hitting an 11-year high in 2019, government data shows. Environmental advocates blame the expanding destruction on Bolsonaro, who has weakened environmental protections and called for more mining and farming in the Amazon region while also deploying the military to fig
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