Brazil halts Amazon fires amid investor pressure
Brazil's government has succumbed to investor pressure, and is to ban the setting of fires in the Amazon for 120 days.
The announcement on Thursday (July 9) came after meeting with global investors to address their increasing concerns over destruction of the rainforest.
Some firms have vowed to put additional investments in Brazil on hold if the government fails to act.
The decree, set to be issued next week, repeats a similar ban last year.
There has been international outcry that Brazil is not doing enough to protect the world's largest rainforest.
The country's government, led by Vice President Hamilton Mourao, arranged the video conference in response to a letter sent by 29 global firms.
"Regarding the Amazon fund, Ricardo Salles (environment minister) and I held new discussions with the the two largest investors: Norway and Germany. We're waiting for the green light from them which is also related to our answer regarding deforestation. Once we are able to present consistent data, the resources will be once again reopened to projects related to the development, protection and preservation of the Amazon."
Environmental destruction has surged since right-wing President Jair Bolsonaro took office at the start of last year.
Deforestation has risen 34% in the first five months of 2020, compared to a year-ago.
Brazil said after the meeting that it was being unfairly criticised over the issue.
It says the government does not have enough personnel to stop illegal loggers and gold miners.
Public health experts fear loggers and other outsiders are spreading coronavirus in the Amazon, putting indigenous tribes at risk.
