BNP Paribas will not lend to firms farming deforested land in the Amazon
An area of Amazon rainforest the size of Israel was felled last year, according to Amazon Conservation
15 February 2021 - 15:52
Paris — France’s largest bank, BNP Paribas, pledged on Monday to stop financing firms producing or buying either beef or soybeans cultivated on land in the Amazon cleared or converted after 2008.
The lender also said it would encourage clients not to buy or produce beef or soy farmed in the Cerrado, a vast tropical savanna eco-region covering 20% of Brazil, only financing those that adopt a strategy of zero deforestation by 2025...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.