Investors Pressure Banks Over Client Exposures to Deforestation
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A group of more than 30 investment managers has teamed up to put pressure on the banks they hold, in an effort to get them to purge their books of deforestation risk.
Institutions including Aviva Plc, Robeco Institutional Asset Management and Fidelity International laid out their expectations in a report on Tuesday. Banks in their investment portfolios are being asked to halt financing that supports commodity-driven deforestation and human-rights abuses.