Global Banks Earn Billions from Deforestation
According to a new report by Global Witness, financial institutions have made $26 billion from financing deforesting companies since the Paris Agreement was signed in 2015.
We are witnessing a fire-sale of the world’s rainforests
This averages around $7 million every single day. The report exposes a glaring contradiction at the heart of forest finance, as Brazil prepares to launch a flagship tropical forest fund at COP30.
- Regions affected: Latin America and the Caribbean, Asia-Pacific, Europe, North America
- Countries involved: Brazil, China, Indonesia, United Kingdom, France, Germany, United States
- Issues: Deforestation, Biodiversity, Commodities, Human rights, Supply chains, Finance and investments, Agribusiness
Author's summary: Global banks profit from deforestation despite environmental efforts.