IBOV 175,546.36 ▼ 1.23% IPSA 11,275.15 ▲ 1.05% IPC MEX 66,396.15 ▼ 0.19% MERVAL 3,100,732 ▼ 1.76% COLCAP 2,350.44 ▲ 0.24% BVL PERÚ 58,781.02 ▲ 0.81% USD/BRL5.10▼ 0.18% USD/MXN17.16▼ 0.34% USD/CLP915.30▲ 0.19% USD/COP3,152▼ 0.93% USD/PEN3.38▲ 0.14% USD/ARS1,500▲ 0.22% USD/UYU40.24▲ 1.20% USD/PYG5,919▲ 1.22% USD/BOB11.81▼ 1.32% USD/DOP58.22▲ 0.38% USD/CRC449.80▲ 1.96% USD/GTQ7.62▲ 2.31% USD/HNL26.78▲ 0.64% USD/NIO36.62▲ 0.75% USD/VES754.82▼ 0.02% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.89▲ 0.89% USD/TTD6.68▲ 0.31% EUR/BRL5.88▼ 0.87% BRENT 83.12 ▲ 0.76% WTI 77.79 ▲ 0.65% IRON ORE 161.91 — — COPPER 6.71 ▲ 0.30% GOLD 4,365 ▲ 2.90% SILVER 64.60 ▲ 5.14% SOY 1,181 ▲ 2.05% CORN 464.00 ▲ 5.69% WHEAT 633.00 ▲ 0.28% COFFEE 308.60 ▼ 4.06% SUGAR 15.70 ▲ 0.83% ORANGE JUICE 152.55 ▼ 3.27% COTTON 83.29 ▲ 1.77% COCOA 5,826 ▲ 0.87% BEEF 225.20 ▼ 3.83% CATTLE 341.75 ▼ 3.28% LITHIUM 72.41 ▼ 0.33% PETR4 42.13 ▲ 0.48% VALE3 75.39 ▼ 1.66% ITUB4 41.83 ▼ 1.30% BBDC4 17.70 ▼ 1.94% ABEV3 15.66 ▼ 1.14% BBAS3 20.28 ▼ 3.66% B3SA3 15.36 ▼ 1.22% WEGE3 48.40 ▼ 0.82% PRIO3 58.61 ▼ 1.00% SUZB3 41.97 ▼ 2.03% RENT3 38.16 ▼ 2.65% AZZA3 16.19 ▲ 1.44% CSAN3 3.79 ▼ 3.07% RAIZ4 0.26 — 0.00% PCAR3 2.90 ▼ 1.36% GMAT3 3.82 ▼ 1.80% PSSA3 52.65 ▼ 1.55% CVCB3 1.51 ▼ 2.58% POSI3 3.48 ▲ 0.58% SLCE3 13.21 ▼ 2.22% NATU3 8.18 ▼ 1.45% BRKM5 6.05 ▲ 3.07% RANI3 8.31 ▼ 0.95% CSNA3 4.74 ▼ 3.07% CMIN3 5.75 ▼ 2.54% USIM5 7.19 ▼ 3.62% GGBR4 25.65 ▼ 2.51% ENEV3 26.60 ▼ 1.41% CPFE3 45.85 ▼ 0.52% CMIG4 11.11 ▼ 1.24% EQTL3 38.43 ▼ 1.91% LREN3 13.48 ▼ 1.39% VIVT3 30.89 ▼ 1.03% RAIL3 13.71 ▼ 2.00% KLABIN 18.02 ▼ 3.33% RAIA DROGASIL 20.12 ▼ 2.09% RDOR3 34.06 ▼ 1.13% HAPV3 11.13 ▲ 0.18% FLRY3 17.27 ▼ 0.52% SMTO3 14.69 ▲ 2.73% UGPA3 32.75 ▲ 1.05% VBBR3 35.05 ▼ 0.11% BBSE3 40.96 ▼ 1.70% BPAC11 56.20 ▼ 1.07% CURY3 31.53 ▼ 1.56% AERI3 2.29 ▼ 0.43% VIVARA 21.81 ▼ 2.15% COMPASS 23.32 ▼ 3.72% VAMOS 3.11 ▼ 6.33% SANB11 29.27 ▼ 0.71% ASAI3 8.49 ▼ 3.85% SBSP3 27.39 ▼ 1.15% WALMEX 49.01 ▲ 0.99% GMEXICO 219.13 ▼ 1.46% FEMSA 210.07 ▼ 2.01% CEMEX 19.48 ▼ 2.40% GFNORTE 199.00 ▲ 0.04% BIMBO 60.64 ▼ 0.85% TELEVISA 9.80 ▲ 2.94% AMX 20.62 ▼ 0.82% GAP 382.00 ▲ 2.03% ASUR 277.72 ▲ 1.76% OMA 237.70 ▲ 0.68% KOF 188.00 ▲ 0.42% GRUMA 253.56 ▼ 1.37% KIMBER 40.15 ▼ 0.02% SQM-B 66,300 ▲ 3.67% COPEC 6,200 ▼ 1.40% BSANTANDER 81.06 ▲ 1.07% FALABELLA 6,400 ▲ 0.85% ENELAM 87.61 ▲ 0.64% CENCOSUD 2,060 ▲ 1.99% CMPC 1,030 ▼ 0.01% BANCO CHILE 191.70 ▲ 0.78% LATAM AIR 26.35 ▼ 0.11% YPF 7,840 ▲ 2.02% GGAL 7,385 ▼ 3.34% PAMPA 5,215 ▼ 1.79% TXAR 680.00 ▼ 0.15% ALUAR 931.00 ▼ 0.96% TGS 9,205 ▼ 0.43% CEPU 2,189 ▼ 3.27% MIRGOR 1,625 ▲ 0.31% COME 41.20 ▼ 0.60% LOMA NEGRA 3,393 ▼ 3.00% BYMA 290.00 ▲ 0.52% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 17.40 ▲ 6.16% BANCOLOMBIA 90.25 ▲ 0.12% GRUPO AVAL 5.11 ▼ 3.58% CREDICORP 392.56 ▼ 0.59% SOUTHERN COPPER 193.03 ▼ 2.02% BUENAVENTURA 32.57 ▼ 1.30% MERCADOLIBRE 1,830 ▼ 4.81% NUBANK 14.12 ▼ 2.49% XP 16.68 ▼ 1.77% PAGSEGURO 9.36 ▼ 0.43% STONE 11.08 ▼ 0.81% GLOBANT 37.24 ▼ 2.97% TECNOGLASS 44.47 ▼ 6.87% GAP 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2.09% RDOR3 34.06 ▼ 1.13% HAPV3 11.13 ▲ 0.18% FLRY3 17.27 ▼ 0.52% SMTO3 14.69 ▲ 2.73% UGPA3 32.75 ▲ 1.05% VBBR3 35.05 ▼ 0.11% BBSE3 40.96 ▼ 1.70% BPAC11 56.20 ▼ 1.07% CURY3 31.53 ▼ 1.56% AERI3 2.29 ▼ 0.43% VIVARA 21.81 ▼ 2.15% COMPASS 23.32 ▼ 3.72% VAMOS 3.11 ▼ 6.33% SANB11 29.27 ▼ 0.71% ASAI3 8.49 ▼ 3.85% SBSP3 27.39 ▼ 1.15% WALMEX 49.01 ▲ 0.99% GMEXICO 219.13 ▼ 1.46% FEMSA 210.07 ▼ 2.01% CEMEX 19.48 ▼ 2.40% GFNORTE 199.00 ▲ 0.04% BIMBO 60.64 ▼ 0.85% TELEVISA 9.80 ▲ 2.94% AMX 20.62 ▼ 0.82% GAP 382.00 ▲ 2.03% ASUR 277.72 ▲ 1.76% OMA 237.70 ▲ 0.68% KOF 188.00 ▲ 0.42% GRUMA 253.56 ▼ 1.37% KIMBER 40.15 ▼ 0.02% SQM-B 66,300 ▲ 3.67% COPEC 6,200 ▼ 1.40% BSANTANDER 81.06 ▲ 1.07% FALABELLA 6,400 ▲ 0.85% ENELAM 87.61 ▲ 0.64% CENCOSUD 2,060 ▲ 1.99% CMPC 1,030 ▼ 0.01% BANCO CHILE 191.70 ▲ 0.78% LATAM AIR 26.35 ▼ 0.11% YPF 7,840 ▲ 2.02% GGAL 7,385 ▼ 3.34% PAMPA 5,215 ▼ 1.79% TXAR 680.00 ▼ 0.15% ALUAR 931.00 ▼ 0.96% TGS 9,205 ▼ 0.43% CEPU 2,189 ▼ 3.27% MIRGOR 1,625 ▲ 0.31% COME 41.20 ▼ 0.60% LOMA NEGRA 3,393 ▼ 3.00% BYMA 290.00 ▲ 0.52% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 17.40 ▲ 6.16% BANCOLOMBIA 90.25 ▲ 0.12% GRUPO AVAL 5.11 ▼ 3.58% CREDICORP 392.56 ▼ 0.59% SOUTHERN COPPER 193.03 ▼ 2.02% BUENAVENTURA 32.57 ▼ 1.30% MERCADOLIBRE 1,830 ▼ 4.81% NUBANK 14.12 ▼ 2.49% XP 16.68 ▼ 1.77% PAGSEGURO 9.36 ▼ 0.43% STONE 11.08 ▼ 0.81% GLOBANT 37.24 ▼ 2.97% TECNOGLASS 44.47 ▼ 6.87% GAP AIRPORT 222.11 ▲ 2.11% ASUR 277.72 ▲ 1.76% OMA AIRPORT 111.21 ▲ 1.46% AMX ADR 23.91 ▼ 0.46% FEMSA ADR 122.15 ▼ 1.79% CEMEX ADR 11.30 ▼ 2.16% PETROBRAS ADR 18.52 ▲ 0.87% VALE ADR 14.72 ▼ 1.47% ITAU ADR 8.18 ▼ 0.37% SANTANDER BR 5.79 ▼ 0.09% AMBEV ADR 3.01 ▼ 0.66% CSN 0.94 ▼ 3.84% GERDAU 5.05 ▼ 1.83% LATAM ADR 57.45 ▼ 0.43% BTC 64,641 ▲ 0.59% ETH 1,910 ▲ 0.42% SOL 73.24 ▲ 0.91% XRP 1.03 ▼ 0.08% BNB 588.73 ▼ 0.49% ADA 0.20 ▼ 0.06% DOGE 0.07 ▲ 0.54% AVAX 6.42 ▼ 0.10% LINK 8.23 ▲ 0.62% DOT 0.81 ▼ 0.71% LTC 45.74 ▲ 0.74% BCH 215.85 ▲ 1.58% TRX 0.33 — 0.00% XLM 0.16 ▲ 0.53% HBAR 0.07 ▲ 0.84% NEAR 1.65 ▼ 0.60% ATOM 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Brazil Prepares Reaction to Europe on Amazon Destruction

By · September 17, 2020 · 3 min read

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RIO DE JANEIRO, BRAZIL – Vice-President Hamilton Mourão said yesterday that the government will use diplomacy to address the dissatisfaction expressed by a number of European countries with the increasing deforestation in the Amazon.

“We have to engage in diplomatic negotiations, but also on environmental issues,” said Mourão, commenting on a letter sent by the embassies of Germany, France, Denmark, Italy, the Netherlands, Norway, and the United Kingdom, which alerted on the potential impacts of forest degradation on trade issues.

“Our collective efforts to create greater investment in sustainable agricultural production and improve access to sustainably sourced products in the markets can also support Brazil’s economic growth,” reads the text sent by the European countries.

Brazilian Vice President Hamilton Mourão.
Brazilian Vice President Hamilton Mourão. (Photo: internet reproduction)
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However, the document stresses that while “European efforts are seeking supply chains unconnected to deforestation, the current trend in Brazil makes it increasingly difficult for companies and investors to meet their environmental, social and governance criteria.”

This criticism, which was already exposed to Brazil several months ago by representatives of some 40 global investment funds, joins others made by powerful companies, which turned against the environmental management of the Jair Bolsonaro government.

On Tuesday, about 200 civil society organizations, agribusiness and financial sector companies also proposed to the government a series of measures to reduce deforestation in the Amazon, which continues at alarming levels.

Mourão, who leads the National Council of the Legal Amazon, a federal organization that coordinates several actions aimed at the preservation of what is the largest tropical forest in the world, declared that one of the first steps of the “diplomatic offensive” could be the organization of a trip to the Amazon with ambassadors from the European countries, to learn about the reality of the region.

Mourão said that Brazil “does not deny or hide information about the gravity of the situation,” but clarified that the government “does not accept simplistic or distorted narratives” that, in his opinion, prevail “in some parts of the world on the Amazon.”

The Vice-President also reiterated that in some cases, particularly when it comes to European countries, criticism of Brazil for deforestation is part of a “trade strategy” related to protecting markets. “There are tariff and non-tariff barriers”, he said, and this criticism ” is often one of such barriers.”

In 2019, which coincided with Bolsonaro’s first year in power, the loss of vegetation coverage in the planet’s largest tropical forest increased by 85 percent to 9,165 square kilometers, its highest level since 2016, according to official data. This year, deforestation has already reached 6,099 square kilometers.

Several studies show that the higher the levels of deforestation, the worse fires will become in the region, many of them of criminal origin, to convert forest areas into land for agriculture and livestock.

Civil society blames Bolsonaro’s anti-environmental rhetoric for such an increase, with the head of state also advocating an end to the demarcation of new indigenous lands.

The Amazon is the largest tropical forest in the world and boasts the largest recorded biodiversity in a single area (5.5 million square kilometers) on the planet. It covers the territories of Brazil, Peru, Colombia, Venezuela, Ecuador, Bolivia, Guyana, Suriname, and French Guiana (an overseas French department).

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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