The Brazilian government reported that an agreement with the German bank KFW has been concluded, which includes the donation of $30 mm to the project “Innovation in agricultural production chains for forest conservation in the Legal Amazon”. The aim of the project is to expand and strengthen sustainable production practices in the meat, soybean and timber in the region.
Source: Agencia Estado
Ipea revised downwards projections for agricultural GDP growth for 2020 and 2021. The new estimates point to agricultural GDP expansions of 1.5% and 1.2% in 2020 and 2021 respectively. Previous projections pointed to higher growth of 1.9% and 2%. The revised 2020 estimate is explained by declines in November projections for items such as crops and livestock.
The Italian company Enel forecasts investments in Brazil of $6 bn for the next three years, the equivalent of 12.5% of its overall investment plan for the period. The main focus for the period are power generation projects, as the company has consolidated a strong position in the Brazilian distribution market with acquisitions in recent years.
Natura has inaugurated a renovated innovation center in São Paulo. Ready since March, the technological complex has designed to improve the efficiency of studies. The company estimates that researchers will spend 40% less time on screening processes. Natura invested R$35 million ($6.4 mm) to renovate the facility and says it injects 2.4% of net income on innovation every year.
Source: Valor International
The new director of the CVM said that many Brazilian companies already adopt environmental, social and governance (ESG) criteria. He argued that information on this issue should be provided by companies to the CVM. However, the agency does not have the authority to establish a classification technique for companies that use ESG in their practices.
Source: Money Times