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Nordic asset managers target Brazil debt after amazon fires

Nordic asset managers that warned deforestation in Brazil is creating unacceptable risks for sovereign bondholders are starting to run out of patience.
Eric Pedersen, head of responsible investments at Nordea, Jan Erik Saugestad, CEO of Storebrand AM and Sorin Pirau (right) senior portfolio manager at Danske Bank's emerging market debt team. | Photo: PR
Eric Pedersen, head of responsible investments at Nordea, Jan Erik Saugestad, CEO of Storebrand AM and Sorin Pirau (right) senior portfolio manager at Danske Bank's emerging market debt team. | Photo: PR
By Frances Schwartzkopff / BLOOMBERG

With the rate of burning in Brazil's Amazon and Pantanal regions on the rise, 50 financial managers overseeing around USD 7trn have now agreed to step up their pressure campaign, according to Storebrand ASA, the Norwegian life insurer that launched the movement about a year ago.

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