Member AUM
$70 trillion
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Amazon Soy Moratorium

Demonstrating Support for the Continuation of Deforestation-free Soy Production in the Amazon
Total AUM:
$3 trillion

Statement Overview

In December 2019, a coalition of investment institutions and global corporates exposed to the Brazilian soy sector published an open letter aimed at the Brazilian Government.

The letter calls for the protection of the ‘Amazon Soy Moratorium’, an agreement signed in 2006 to ensure that soy production in the Amazon region only occurs on existing converted agricultural land and not through deforestation of native vegetation.

Since the implementation of the Moratorium, soy-related deforestation has decreased while Amazonian soy production has increased by 400%, showing that agricultural output can be increased while protecting tropical forests.

Investors managing over $3 trillion of assets, co-ordinated by FAIRR, have signed the letter. See the letter and full list of investor and corporate signatories below.


Investor Statement

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


2 Sisters Food Group


Ahold Delhaize

Aegon Asset Management

AIC (Agricultural Industries Confederation)

ALDI SOUTH Group • Alliance pour la Préservation des Forêts






Aquascot Ltd

Asda Stores Ltd.

Avara Foods


Belgian Feed Association (BFA)


BMO Global Asset Management

Bremnes Seashore AS

British Retail Consortium (BRC)




Congregation of Sisters of St. Agnes

Cranswick Plc

Dominican Sisters ~ Grand Rapids


Dutch Food Retail Association (CBL)

EdenTree Investment Management Ltd

Environment Agency Pension Fund


Green Century Capital Management, Inc.

Grieg Seafood ASA

Hermes Investment Management

Hilton Food Group

Iceland Foods Ltd

Iceland Seafood Barraclough Ltd

Inter IKEA Group

Joseph Rowntree Charitable Trust

JLens Investor Network

J Sainsbury Plc

Kerry Group


Lantmännen ek för 

Legal & General Investment Management

Lerøy Seafood Group ASA

Lidl GB

Lyons Seafoods

Mars Inc

Marks and Spencer


Mowi ASA

Moy Park

Multiexport Foods

National Pig Association (UK)

Nordlaks Oppdrett AS

NorgesGruppen ASA

NN Investment Partners

Nor-Feed SAS

Norvida AB

Nova Sea AS


Pax World Funds

Picard Surgelés

Princes Ltd

REWE Group


Scottish Sea Farms


Seventh Generation Interfaith Inc

Storebrand Asset Management

Strathclyde Pension Fund

Swedbank Robur Fonder AB

Tesco Stores Plc 

The Co-operative Group

The Polden Puckham Charitable Foundation

Trusteam Finance

Tulip Ltd


Waitrose & Partners

Winterbotham Darby & Co Ltd.

Wm Morrison Supermarkets Plc

Yeo Valley

Zevin Asset Management