NatWest Bank strategists in the UK have proposed the idea of a $10 billion Brazilian government bond to save the Amazon rainforest as part of a commitment to zero deforestation by 2030.
Record $10 billion bond proposal to protect Amazon
Working to stop the deforestation of the Amazon Rainforest, which absorbs the greenhouse gas that continues to warm the world, Brazilian President Luiz Inacio Lula da Silva wants to continue to maintain his leadership in climate change measures. In this context, it requests the United States, England, France, Switzerland and Canada to join the Amazon hedge fund, which was first established in 2003-2010.
Biggest ‘sustainability-linked bond’ to date
It was learned that Brazil, which wants a commitment to zero deforestation by 2030, received a bond proposal from NatWest Bank strategists in order to fulfill its commitment. Alvaro Vivanco, Head of Macro Strategy at NatWest ESG, underlines that Brazil’s President Lula has an important role in expressing his intention with the proposed $10 billion bond, while noting that Amazon is important to everyone.
While the bond is one of the largest ever sold to developing countries, it is four times larger than Brazilian-held bonds and could set a record in sustainability debt markets.
