Corporations Suffer from Bolsonaro's Anti-Environmental Stance

The country's image deteriorates, and executives already report a drop in investments

A group of 36 large companies expressed concern publicly about the deterioration of Brazil's image abroad. The attitude reflects the growing pressure they feel from foreign investors and business partners on the environmental issue.

Pushes to boycott Brazilian products are already reported, and the presidents of large companies have reported a drop in the capital contributed this year. This information was brought up by businessmen to Vice President Hamilton Mourão, head of the Amazon Council, during a meeting on Friday (10).

(FILES) In this file photo taken on August 27, 2019 Smokes rises from forest fires in Altamira, Para state, Brazil, in the Amazon basin. - Deforestation in the Brazilian Amazon registered a semi-annual record of 3,070 km2 between January and June, 2020, according to official data that increases pressure on Brazilian President Jair Bolsonaro to abandon his projects of economic opening of the largest rainforest in the planet. (Photo by Joao Laet / AFP) - AFP

Environmental charges are nothing new for Brazilian companies, but one component raises the pressure and the tone of the negotiations, assess experts: the environmental policy of the Jair Bolsonaro government. In particular, data on deforestation and fires in the Amazon, which reverberated abroad.

"We are feeling pressure from both customers and investors," said Marcelo Bacci, director of Suzano. "We are on the verge of losing a deal with the European Union due to bad environmental policy. It is damage without dimensions", said Pedro Passos, from Natura.

Translated by Kiratiana Freelon

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