Brazilian banks face criticism for silence on environment bill

Brazilian banks face criticism for silence on environment bill

Politics ESG Green Washing Green Finance Loans Brazil

Brazilian banks have been accused by a prominent think tank and former environment ministers of standing by idly as Congress votes on a new environmental licensing bill that could lead to increased deforestation in the country.  The administration of President Jair Bolsonaro says the bill simply intends to reduce bureaucracy and promote investments, but critics say it may put an end to compulsory licensing and cause an increase clearcutting, including in the Amazon, which will scare away foreign

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