Amazon Soy Moratorium

The Amazon is fundamentally important to life on our planet. It hosts over 10% of all biodiversity and promotes climate stability through its role as a carbon sink. It also plays a vital role in regulating rainfall, which is essential for agriculture – both within Brazil and beyond.

Brazil is one of the world’s major producers of soy. In 2006, a vital agreement known as the Amazon Soy Moratorium (ASM) was established to ensure that soy production in the Amazon region only occurs on existing agricultural land. Since then, soy production in the Amazon has increased 400%, showing that forest protection and agricultural expansion can be compatible.

We, the undersigned global investors and companies who buy/use Brazilian soy, commend the leadership of Brazilian soy stakeholders in achieving this progress. However, deforestation in the Amazon from other causes (mostly cattle ranching) has continued to grow. Brazilian Government data recently published shows that, since 2012, it has increased from 460 thousand hectares to almost 1 million in the last year. 

These deeply concerning figures reinforce the importance of continuing to uphold the ASM. Yet some parties are now questioning whether it should continue. 

Our position is clear: we want to be able to continue to source from, or invest in, the Brazilian soy industry but if the ASM is not maintained, this will risk our business with Brazilian soy. Today, there is enough existing agricultural land to continue to increase soy production in the Amazon by an additional 600% compared to current figures. We look forward to supporting Brazilian partners to continue their leadership and show that economic development and environmental protection can go hand in hand