CSOs call on banks and investors to uphold the criteria of the Amazon soy moratorium

Last week, IPBES launched its long awaited Business and Biodiversity report. One of its key messages is that “All businesses depend on and impact biodiversity and can be agents of positive change.”

In line with this key message, CSOs have sent letters to financial institutions urging them to uphold the zero deforestation criteria of the Amazon Soy Moratorium (ASM).

The ASM is a voluntary commitment not to source soy from land in the Amazon biome deforested after July 2008. It was established in 2006 and adopted by many soy buyers and financial actors. It has long been recognized as the most effective zero-deforestation agreement ever created.

Lobby efforts are now weakening the moratorium, which could drive the Amazon closer to a tipping point.

The IPBES report finds that it is well established that “Biodiversity losses caused by economic activity put the future of businesses, the economy and global society at risk”. It also finds that financial institutions can play an important role in influencing businesses. In that spirit, we call on financial institutions to show leadership, and uphold the principles of the moratorium.