New Brazilian policy helps us implement existing practice.
The Brazilian development bank BNDES will implement a stricter policy to combat illegal deforestation in Brazil starting in March 2024. This means that a new, stricter regulation will come into effect to limit BNDES lending to embargoed* (potential) customers. Rabobank sees this as a positive signal to the market and support for its policy. We welcome this nice step which gives clarity to all involved.
We strongly believe that we can help change the system from within by being active together in the food & agribusiness sector in Brazil. Simply put, the new policy helps us implement our anti-deforestation policy, which is why we support this move by the BNDES.
About the collaboration with BNDES: Rabobank is an important channel for the goals of the BNDES and the BNDES is an important partner for Rabobank. BNDES plays an important role in promoting crucial (and primary) sectors of Brazil. We will therefore continue to actively seek collaboration. It is precisely through this collaboration that we can have a positive impact on our clients, including in the areas of sustainability and deforestation.
*Embargo: the Brazilian federal environmental authority, Ibama, can impose embargoes on suspicion of a possible environmental violation.
Please find here our previous statement: Impact on global food systems by actively participating in sustainable transitions
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