Amazon Fires Provoke $120 Billion Activist to Target Companies
Fire consumes land deforested by cattle farmers near Novo Progresso, Para state, Brazil, 2020.
Photographer: Andre Penner/APThis article is for subscribers only.
The lead manager behind a global investor campaign to help save the Amazon is redirecting its activism and targeting corporations after Brazil moved “further away” from protecting its forests.
Storebrand Asset Management, which oversees $120 billion in assets, has been steering a group of like-minded funds which manage a total of $3.7 trillion. But a year of lobbying Brazil’s government has failed to stop illegal logging, and that means a new strategy is needed, Chief Executive Officer Jan Erik Saugestad said in an interview.