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

Foreign investors have urged Brazillian President Jair Bolsonaro to check the rate of deforestation as well as get the rising number of forest fires in the Amazon rainforest under control. In the coming months, Brazil hopes to rely on foreign investments from Europe, Asia and South America to help boost the country's economy which is in turmoil owing to the 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, the country saw a record increase in the number of forest fires in the Amazon. Countries across the world were alarmed to see the ‘lungs of the world’ burn for weeks at stretch.

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

Read: Brazilian President Bolsonaro Hopes For Trump's Victory In US Presidential Election 2020

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

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

Read: Brazil's President Jair Bolsonaro Calls Europe An 'environmental Sect'

Deforestation on the rise in Brazil

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

With new pressure on Bolsonaro and his administration to show tangible results, Brazil will have to actively curtail deforestation in the Amazon rainforest because if the 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.

Read: Brazil President Jair Bolsonaro tests Positive For Coronavirus Again

Read: Brazil Records 14th Consecutive Month Of Rise In Amazon Deforestation