The Investor Policy Dialogue on Deforestation (IPDD) notes that President Bolsonaro of Brazil has written to President Biden of the United States of America ahead of the latterâs virtual Leadersâ Summit on Climate this week. The IPDD welcomes President Bolsonaroâs restatement of Brazilâs existing commitment to eliminate illegal deforestation in the Amazon by 2030. We recognise that the public health emergency caused by Covid-19 has exacerbated the challenges facing Brazil on many fronts and put particular pressure on public finances.
We note, however, that policies over the last couple of years have moved Brazil further away from the goal of reducing illegal deforestation. Forest loss in 2020 hit a 12-year high, and although the rainy season months of January and February hinted at an improvement this year, we note both that the peak period of concern in the dry season still lies ahead, and that last monthâs data was worse than in March 2020.