Storebrand leads a global investor group which in a meeting with the Brazilian vice president has now called for stronger efforts to reduce deforestation.
In total, the group represent 7,000 billion dollars in assets under management. The investors have joined forces and formed the group "Investor Policy Dialogue on Deforestation (IPDD)". The group requested a meeting after the development has gone in the wrong direction through 2020 despite a ban on starting forest fires.
Read the group's international press release here.
The Vice President expressed a strong desire for cooperation with the coalition to reduce deforestation.
- It is a positive signal from the Brazilian government that the dialogue is desired. Now it is urgent to see real results in the work against deforestation, says Jan Erik Saugestad, Executive Vice President of Asset Management at Storebrand, after the meeting with the Vice President of Brazil, Hamilton Mourão.
Saugestad says:
- We want to continue to contribute to the Brazilian economy as investors, but deforestation in Brazil makes it increasingly difficult for companies and investors to defend their own ambitions within sustainability. Developments in Brazil through 2020 show that this is urgent, and now we expect political commitments from the Brazilian government that will result in concrete action in the coming months.
He emphasizes that deforestation and its effect on both climate change and the loss of nature and biodiversity are direct threats to the values created in Brazilian business, values owned by investors such as Storebrand.
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