"Corporations pile pressure on Brazil over Amazon fires", 30 August 2019

Financial pressure is growing on Brazil over fires in the Amazon and the far-right president's belligerent response to them.

Asset managers, pension funds and companies have issued warnings, halted deals and stopped purchases of government bonds.

The US clothing company VF Corporation, which is behind brands including Timberland, Kipling bags and The North Face, has suspended Brazilian leather purchases, and Norway's two biggest investors have warned global companies against contributing to environmental damage...

...The emerging market debt team at Scandinavia’s Nordea Asset Management quarantined Brazilian government bonds, meaning they would no longer buy but only sell...

...Brazilian financial specialists raised concerns about what might come next. “More and more investors look beyond quarterly results and concern themselves with how sustainably companies operate,” said Mauro Cunha, the president of the Brazilian Association of Capital Market Investors. “A negative perception of Brazil in this area could even prompt big international funds to disinvest, impacting on the price of Brazilian assets.”