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Investors With $3 Trillion Want Brazil to Uphold Soy Deforestation Pact

  • Investors sent a letter to government to uphold moratorium
  • Farmers say pact is stricter on growers than law requires
Brazil is the top exporter of soybeans.

Brazil is the top exporter of soybeans.

Photographer: Patricia Monteiro/Bloomberg
Updated on

Investors managing about $3.2 trillion called on Brazil to stick to a pact that aims to prevent soybean-related deforestation in the Amazon and which has drawn criticism from farmers.

Money managers including Legal & General Investment Management and retailers such as Tesco Plc sent a letter to President Jair Bolsonaro’s government urging it to uphold the 2006 Amazon Soy Moratorium, according to Farm Animal Investment Risk & Return, which coordinated the effort. The pact bars the trading of soy grown on land cleared after 2008 and aims to reduce emissions.