RIO DE JANEIRO — Brazil’s government on Thursday proposed that global asset-managers adopt protected areas in the Amazon rainforest in order to curb illegal deforestation ahead of the season farmers traditionally use fire to clear land and brush. Vice President Hamilton Mourão, who heads the government’s council on the Amazon region, held a video call with representatives of investment firms and said he hopes for financial support from them to support environmental protection projects. Last month, mainly European investment firms sent a letter expressing concern over rising deforestation and demanded forceful action against illegal activities in the Amazon. The 34 firms that have now signed onto the initiative have a total $4.6 trillion in assets under management. His government faced international criticism last year when deforestation in the Amazon reached it worst level in 11 years.

Source: International New York Times July 09, 2020 18:45 UTC