Bolsonaro faces the heat from foreign investors, pressurised to protect Amazon rainforest

Foreign investors have urged Brazillian President Jair Bolsonaro to check rate of deforestation as well as get rising number of forest fires in Amazon rainforest under control. In coming months, Brazil hopes to rely on foreign investments from Europe, Asia and South America to help boost country's ecomy which is in turmoil owing to COVID-19 pandemic.

Investors threaten serious consequences

As per reports, Brazilian Vice President Hamilton Mourao on July 15 stated that Brazil will strive to reduce deforestation and forest fires to 'an acceptable minimum'. Last year, country saw a record increase in number of forest fires in Amazon. Countries across world were alarmed to see ‘lungs of world’ burn for weeks at stretch.

In response to fires, Ireland and France warned Brazil that y would forego any tre deals between European Union and South American tre bloc Mercosur, of which Brazil is a member.

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French President Emmanuel Macron called that large number of fires in Amazon an ‘international crisis’ but Bolsonaro accused France of maintaining a ‘colonial mentality’.

Unlike warnings from hes of states, threats from foreign investors really hit home with Brazilian authorities since country is relying on foreign investments in order to creat jobs and tackle inflation. 

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Deforestation on rise in Brazil

Deforestation in Brazil’s section of Amazon has risen for 14th consecutive month during June 2020. According to reports, preliminary data from government states that deforestation has risen by 10 percent in June as compared to same time a late year. This data has increased pressure on Bolsonaro who has been heavily criticised for t doing eugh to protect Amazon rainforest.

With new pressure on Bolsonaro and his ministration to show tangible results, Brazil will have to actively curtail deforestation in Amazon rainforest because if current state of things is allowed to continue, Brazil will be on track for recording annual deforestation of 15,000 square kilometres of forest cover.

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