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230 institutional investors call on companies to take action to combat deforestation & climate change
Author: Ceres, Published on: 18 September 2019
Today, 230 institutional investors representing USD $16.2 trillion in assets under management are calling on companies to take urgent action in light of the devastating fires in the Amazon, which have been fueled in part because of the deforestation happening at an alarming rate in Brazil and Bolivia.“It is with deep concern that we follow the escalating crisis of deforestation and forest fires in Brazil and Bolivia,” the investors wrote in a statement released today. “As investors, who have a fiduciary duty to act in the best long-term interests of our beneficiaries, we recognise the crucial role that tropical forests play in tackling climate change, protecting biodiversity and ensuring ecosystem services.”...The statement calls on companies to tackle the financial material deforestation risks, including market and reputational risks, within their operations and global supply chains...