Brazil Asks Investment Firms To Adopt Protected Amazon Areas
Source: Associated Press
Published:Sunday | July 12, 2020 | 12:24 AM
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 traditional use of 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 on to the initiative have a total US$4.6 trillion in assets under management.
“The Adopt a Park programme will permit each of these national and foreign companies to choose one of the 132 conservation units in the Amazon and start financially supporting them, for monitoring, prevention, and recovery,” environment minister Ricardo Salles said in a press conference in Brasilia after the virtual meeting. The funding, for example, could pay for security to prevent people from entering the areas.
Read more: http://jamaica-gleaner.com/article/business/20200712/brazil-asks-investment-firms-adopt-protected-amazon-areas
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