Bradesco Asset Management (Bram) will create a ranking to identify the companies in its portfolio that invest the most according to the best environmental, social and governance practices (ESG). With R$ 520 billion ($94.5 bn) under management, Bradesco Asset Management has 260 companies within its investment funds.
Ibama rejected the application for a preliminary license to install the offshore wind farm Caucaia, in Ceará. The 598 MW project is a partnership between the Italian company Imprese and Sviluppo and the businessman Lucio Bonfim. The environmental impact study (EIA/Rima) was rejected and the preliminary license was denied for the second time, due to deficiencies in port solutions and impacts on the beach of the Ceará coast.
The areas with an alert for deforestation in the Amazon increased 34.5% in the period of one year, according to data released by the Space Research Institute (Inpe). From August 2019 to July 31 of this year, there was an alert for deforestation of 9,205 km² of forest area, an area more than six times the size of the city of São Paulo.
BNDES will receive an injection of R$ 350 million ($ 70mm) from the Climate Fund, whose resources will be used to finance sanitation projects and solid waste collection. The fund was created in 2009 and allocates resources from the oil activity in the country to sustainable projects that help preserve the climate and reduce the emission of gases that contribute to the greenhouse effect.
In a move similar to what happened in the 1990s and 2000s involving hydroelectric plants, large energy consumers are investing in wind and solar complexes to become self-producers. The sustainable appeal of energy sources each day becomes more relevant in the companies’ strategy of being “greener”. The goal is to have their own plants to supply their demand.
The number of wildfire outbreaks in Brazil’s Amazon rainforest increased 20% in June and reached its highest level in 13 years, government data showed, and researchers fear that the fact signals a repeat of last year’s forest fire increase. In June, the INPE detected 2,248 outbreaks of fire in the Amazon forest, compared to 1,880 in June 2019.
The percentage represents 11.6 million hectares of public forests “appropriated” over 21 years (1997-2018). Totally, the Amazon has 49.8 million hectares of unallocated forests. The consequence of the lack of destination of these areas is the invasion of crickets and the increase in deforestation and burning.
A group of 29 global investment firms that manage $3.7 trillion are demanding meetings with Brazilian diplomats around the world to call the government to stop soaring deforestation in the Amazon. Deforestation in the Brazilian Amazon increased by a further 34 % in the first five months of 2020, according to data from the government space research agency INPE.
Seven major European investment firms told Reuters they will divest from beef producers, grains traders and even government bonds in Brazil if they do not see progress in resolving the surging destruction of the Amazon rainforest. The rising threats from investors with more than $2 trillion in assets under management, including Finland-based Nordea and the UK’s Legal & General Investment Management (LGIM), show how the private sector is taking global action to protect the world’s largest rainforest.
The Brazilian government announced a record of R$236.3 billion ($46 bn) in funds for financing by the Safra Plan 2020/21, up 6.1% compared to last season’s amount. Of the total, R$179.38 billion ($34.6 bn) will be used for funding and marketing and R$56.92 billion ($11 bn) will be for infrastructure investments.