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ESG investor gets funds with USD 4.6trn to back Brazil plan

Last month, Storebrand AM initiated a dialog with Brazil heading a group of 29 investors to stop the rapid deforestation of Brazil's Amazon rainforest. Now the investor group is counting 34 funds and is already seeing "real impact", says Jan Erik Saugestad, Chief Executive of Storebrand.

Jan Erik Saugestad, chief executive of Storebrand. | Photo: PR/Storebrand

Norway's biggest private investor, Storebrand Asset Management says its pressure campaign on Brazil to protect the Amazon forest is having a "real impact".

The money manager has now brought together 34 funds with over USD 4.6trn (EUR 3.9trn) in assets to try to get Brazil to end policies that destroy the Amazon forest. Storebrand, which has devoted its entire USD 90bn (EUR 75.9bn) portfolio to environmental, social and governance investing, says it now has a "clear commitment" from the Brazilian government that it will respond to its demands.

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