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French bank will stop financing companies that exploit deforested land in the Amazon
Continuing a trend of European businesses moving independently to protect the Amazon, France’s BNP Paribas announced it will no longer finance companies that buy cattle or soy produced on deforested or converted Amazon lands after 2008. The measure also applies to deforested lands in Brazil’s Cerrado region, a threatened tropical savanna eco-region covering 20% of Brazil that has lost half its land to agricultural clearing.