In a press release published on September 18, 2019 Ceres reported: “Today, 230 institutional investors representing USD $16.2 trillion in assets under management are calling on companies to take urgent action in light of the devastating fires in the Amazon, which have been fueled in part because of the deforestation happening at an alarming rate in Brazil and Bolivia.
‘It is with deep concern that we follow the escalating crisis of deforestation and forest fires in Brazil and Bolivia,’ the investors wrote in a statement released today. ‘As investors, who have a fiduciary duty to act in the best long-term interests of our beneficiaries, we recognise the crucial role that tropical forests play in tackling climate change, protecting biodiversity and ensuring ecosystem services.’
‘In signing this statement, investors representing a significant portion of global capital are pledging their support for the Amazon region, which has been devastated by fires and deforestation,’ said PRI CEO Fiona Reynolds. ‘In doing so, investors are recognising the critical role they play to urgently accelerate action to help societies affected by this tragedy, and to prevent environmental disasters of this scale in the future.’
‘Institutional investors increasingly recognize that deforestation creates material financial risks, including reputational and regulatory risks for companies, and that it exacerbates systemic risk across portfolios by contributing to climate change,’ said Ceres CEO and President Mindy Lubber. ‘Therefore, companies must demonstrate to investors that they can hold their global suppliers accountable for disclosing and eliminating these risks.’”
On the Ceres internet site, you may read the entire press release and download the full statement with the list of investor signatories.