Brazil to Ban Fires in Amazon for 120 Days
Brazil will ban fires in the Amazon forest for 120 days, heeding the demands of global investors upset over environmental destruction, the government said Thursday. A formal decree banning fires will come next week. Brazilian Vice President Hamilton Mourao made the announcement during a virtual investment conference Thursday with several European firms. He cited a letter signed by 29 firms — some of whom are threatening to cut all investment in Brazil unless the environmental degradation stops. “It’s a positive first step, and we need to continue the dialogue, and hopefully we’ll all see some results on the ground,” said Jeanett Bergan, head of responsible investments for KLP, Norway’s largest pension fund. The investors told Brazilian authorities they monitor deforestation rates, prevention of forest fires, and enforcement of Brazil’s forest code when assessing their…