A group of leading institutional investors (see list below) has succeeded in persuading the Brazilian government to commit to putting a temporary halt to fires in the Amazon.
The Brazilian government announced overnight that it planned to ban setting fires in the Amazon for 120 days. A decree banning fires is set to be issued next week.
It follows a meeting with investors with the government and the Central Bank of Brazil yesterday. The bank is a member of the high-level Network for Greening the Financial System (NGFS) group, which last month published a conversation in sustainability with Deputy Governor Fernanda Nechio.
The commitment marks a significant success for investor engagement with sovereign entities and could prove a blueprint for further engagement with countries that fall short of environmental standards.
Typically, engagement takes place between investors and corporate issuers.
“We are used to sustainability dialogues with th…