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France's BNP to stop financing customers using converted Amazon forest land


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PARIS (Reuters) - France s BNP Paribas said on Monday it would not finance customers producing or buying beef or soybeans from land in the Amazon cleared or converted after 2008.
BNP, which outlined a policy to fight deforestation in the Amazon and the Cerrado regions, also said it would encourage its clients not to produce or buy beef or soybeans from Cerrado land cleared or converted land after Jan. 1 2020.
The bank, France s largest listed lender, said it would only provide financial products or services to companies - producers, meat conditioners and traders - with a strategy to achieve zero deforestation in their production and supply chains by 2025 at the latest. ....

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