Brazilian partners set up new company to reverse deforestation
Beef and leather manufacturing group Marfrig has joined forces with banking groups Itaú Unibanco, Rabobank and Santander, and with wood-pulp producer Suzano and mining group Vale to set up Biomas, a new company dedicated to restoring forest areas in Brazil.
They made a joint announcement during the COP27 event in Egypt.
Objectives the partner companies laid out for Biomas include total restoration of a protected areas of native forests in the Amazon, Atlantic and Cerrado biomes. Biomas will restore two million hectares of degraded areas, beginning with the planting of approximately two billion native trees.
Marfrig said at COP27 that the project could reduce carbon emissions by 900 million tonnes over two decades. In addition, the new company will help protect more than 4,000 species of animals and plants.
