UK banks and investors backing Amazon destruction

Deforestation is the second major cause of climate change, and a joint investigation by the Guardian, Greenpeace’s Unearthed and the Bureau of Investigative Journalism, UK banks and financial institutions have provided more than $2bn US (£1.5bn) in financial backing in recent years to Brazilian beef companies linked to deforestation in the Amazon rainforest.

 

Financial data between January 2013 and May 2019 shows that HSBC underwrote over $2bn in bonds for two of the worst meat companies operating on illegally deforested land, and they also hold shares in the third worst company covered in the report.

 

Read the full story on the Guardian.


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