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The study finds that the ABC Recuperação credit line has had modest effects on pasture recovery in the Cerrado, with most severely degraded areas remaining unchanged. While some pasture was converted to crops, the program's contribution to the ABC Plan's 2020 target of recovering 15 million hectares of degraded pasture was estimated at only 0.9% to 2.5%. The report highlights that technical assistance is a critical factor for success and recommends improved monitoring and the integration of credit with risk management instruments.

An evaluation of the ABC Recuperação credit line in the Cerrado biome finds that the program has had modest effects on pasture recovery and marginal impacts on land use. The analysis reveals that credit provision did not significantly improve pasture quality, and some areas were converted from native vegetation to agricultural use before credit was obtained. However, the use of technical assistance was linked to a significant reduction in degraded pasture area. The report recommends strengthening monitoring, improving pre-credit evaluations to prevent funding recently deforested areas, and combining credit with technical assistance and risk mitigation tools.

The study finds that the ABC Recuperação credit line has had modest effects on pasture recovery, with most areas remaining unchanged and severely degraded pastures showing little improvement. While some pasture was converted to agriculture, the program's contribution to the Plano ABC goal of recovering 15 million hectares by 2020 was estimated at a maximum of 2.5%. Technical assistance was identified as a critical factor for success, particularly for severely degraded areas. The report also notes that some areas were deforested immediately prior to receiving credit, suggesting a need for better ex-ante monitoring and the integration of risk management tools.

The executive summary evaluates the ABC Recuperação credit program in the Cerrado, finding that it has had very modest impacts on pasture quality and land use. The study highlights that the credit line contributed to at most 2.5% of the 2020 recovery goal and notes a concerning trend where some areas were converted from native vegetation to pasture before receiving credit. It recommends strengthening post-credit monitoring, improving pre-credit evaluations, and integrating technical assistance to enhance environmental outcomes.

The analysis reveals that 31% of properties that deforested in Brazil between 2020 and 2022 accessed subsidized rural credit, with a small number of large properties absorbing a significant portion of these funds. The study finds that deforestation is highly concentrated among the largest credit recipients, particularly in the Cerrado biome, and argues that current credit restrictions based on environmental embargoes are insufficient because most deforested properties are not embargoed.

The report identifies a 'corporate playbook' used by the meat and dairy industry to avoid environmental regulation through three main tactics: distraction (greenwashing and funding biased science), procrastination (prioritizing advertising over low-carbon R&D), and dismantling (aggressive lobbying to weaken climate policies). It highlights how these strategies are applied globally, particularly in the EU, US, and Brazil, to maintain the status quo of animal agriculture.

The report finds that 31% of properties that deforested in Brazil between 2020 and 2022 accessed subsidized rural credit, receiving an average of R$ 14 billion annually. This deforestation is highly concentrated in large properties, with the largest 5% of credit recipients accounting for 74% of the associated vegetation loss. The Cerrado biome is the most affected, containing 50% of the deforestation associated with subsidized credit. The authors argue that current restrictions, such as environmental embargos, are insufficient as less than 5% of new deforestation areas were embarged. They recommend that subsidized credit be granted exclusively to properties without any deforestation, regardless of the legality of the suppression.

The report examines how the Central Bank of Brazil (BCB) uses financial regulation to curb deforestation, particularly in the Amazon and Cerrado biomes. It details the BCB's 'Agenda BC# Sustainability', which integrates social, environmental, and climate risks into the national financial system. A central pillar of this strategy is the reform of rural credit, where the BCB has implemented restrictions on financing for properties with illegal deforestation, lack of environmental registration (CAR), or those located in protected areas. The document also highlights the role of the 'Bureau de Crédito Rural' and the 'Sicor' system in monitoring compliance in real-time.

The report examines how the Central Bank of Brazil (BCB) is leveraging its regulatory authority to align the national financial system with environmental goals. It details the BCB's 'BC# Sustainability Agenda', which introduces risk management requirements for social, environmental, and climate risks, and mandates disclosures based on TCFD recommendations. A significant portion of the analysis focuses on rural credit, where the BCB has implemented restrictions on financing for properties that violate the Forest Code or are located in protected areas. The report highlights the role of the Rural Environmental Registry (CAR) and the Rural Credit Bureau (SICOR) in monitoring compliance and suggests further integration of remote sensing data to enhance oversight.

The global soybean sector, valued at USD 155 billion, is dominated by Brazil, the United States, and Argentina. While production has surged, it has driven significant deforestation in the Brazilian Amazon and Cerrado. Voluntary Sustainability Standards (VSSs) like RTRS and ProTerra aim to mitigate these impacts, but their adoption remains low, representing only 1.6% to 2.3% of global production as of 2021. The report finds that VSS compliance offers limited financial incentives for most farmers, with premiums often being minimal or non-existent, though organic soy commands significantly higher prices. Climate change threatens future yields, necessitating the development of resilient cultivars and the establishment of deforestation-free supply chains.

The document details restoration monitoring efforts across four countries. In Brazil, the Brazilian Restoration and Reforestation Observatory (BRRO) tracks progress toward climate agreements using a multi-stakeholder platform and satellite data. Kenya has developed a monitoring framework with 30 indicators integrated into its 2024 National Ecosystem and Landscape Restoration Strategy. Burkina Faso utilizes the ONEDD platform for centralized data sharing among government and NGO partners. Vietnam employs the FORMIS system for forest status monitoring, though it faces challenges with data accessibility and consistency.

The 2024 Forest Declaration Assessment finds that the world is largely off track to meet its 2030 forest goals. In 2023, 6.37 million hectares of forest were permanently lost, exceeding the target required to eliminate deforestation by 45 percent. Tropical deforestation remains high, particularly in Asia, while primary forest loss is 38 percent higher than necessary to be on track. Forest degradation is widespread, with 62.6 million hectares losing ecological integrity in 2022. The report also highlights an escalation in forest fire frequency and intensity, with 138 million hectares of tree cover burned between 2001 and 2023. Restoration efforts are hindered by a lack of transparent monitoring, though tropical forest regrowth increased significantly after 2015. Biodiversity in forests is also under threat, with tree cover loss in forested Key Biodiversity Areas (KBAs) spiking by 10 percent in 2023.

The document details the methodology for tracking deforestation and scoring the corporate responses of ten major soy and cattle companies in Brazil. It describes a Tracker based on 172 cases of deforestation and conversion across the Amazon, Cerrado, and Pantanal biomes, and a Scorecard that evaluates companies on responsiveness, transparency, action, and the robustness of their Deforestation- and Conversion-Free (DCF) policies.

The Soy & Cattle Tracker monitors deforestation in Brazil's Amazon and Cerrado biomes, linking land conversion to major soy traders and beef packers. Using satellite alerts from DETER (INPE) and GLAD (Global Forest Watch), the system identifies high-deforestation municipalities and selects emblematic cases for analysis. Companies are scored from 0 to 100 based on the number of linked cases, total area deforested, illegal deforestation in protected areas, responsiveness, case resolution, and transparency. The tracker monitors seven soy traders (ADM, AMAGGI, Bunge, Cargill, COFCO International, LDC, and the ALZ partnership) and three beef packers (JBS, Marfrig, and Minerva), utilizing a certainty scale (High or Medium) to validate supply chain links through public documents, government data, and company responses.

The Soy & Cattle Tracker identifies deforestation and native vegetation clearance in Brazil using satellite imagery and connects these cases to the supply chains of seven major soy traders and three major meatpackers. Companies are scored out of 100 based on criteria including the number of linked cases, total hectares of clearance, possible illegal clearance, responsiveness to reports, resolution of cases, and transparency. The system utilizes data from the Rapid Response system, filtering deforestation alerts from the Brazilian National Institute for Space Research’s DETER system and World Resources Institute’s GLAD alerts to focus on the most egregious cases with strong supply chain links.

The document analyzes the green agricultural policies and financial markets of China and Brazil, highlighting the strategic importance of soy and beef in their bilateral trade. It identifies a divergence in focus, with China prioritizing technical production efficiency and pollution control, while Brazil focuses on land-use change, deforestation, and livestock management. The report recommends that Brazil develop a national taxonomy combining 'white list' and 'technical screening' approaches and suggests seven specific actions for China-Brazil collaboration, including the creation of a joint green agriculture fund and the harmonization of sustainable production standards for key commodities.

The report analyzes the green agriculture landscapes of China and Brazil, highlighting their strategic trade partnership and shared climate challenges. It contrasts China's focus on production technology and pollution control with Brazil's emphasis on land use, deforestation, and livestock management. The document proposes a framework for Brazil to develop its own sustainable taxonomy and suggests seven action points for the two nations to establish a common green agriculture classification standard to facilitate cross-border capital flow and sustainable commodity value chains, particularly for soy and beef.

The report analyzes the green agriculture policies and finance markets of China and Brazil, emphasizing the strategic importance of their bilateral trade in soybeans and beef. It identifies a need for harmonized green taxonomies to reduce transaction costs and prevent greenwashing, providing specific recommendations for Brazil's upcoming sustainable taxonomy and a framework for bilateral cooperation.

The Brazilian sustainable debt market reached USD 33.3bn by H1 2023, with green bonds dominating at 45.2%. Within the agriculture sector, forestry is the most financed land-use category, followed by agriculture and bioenergy. The report highlights the role of sustainability-linked bonds (SLBs) for hard-to-abate sectors and recommends government guarantees and a national taxonomy to scale GSS+ financing.

The document analyzes the impact of the EUDR on Brazilian exports of commodities such as cattle, soy, and coffee. It argues that while Brazil possesses a sophisticated framework of environmental policies—including the Forest Code and satellite monitoring systems—that align with EU goals, significant challenges remain. These include the short implementation timeline, the high cost of due diligence for smallholders, and the lack of a comprehensive national traceability system. The authors suggest that the EUDR could serve as a catalyst for Brazil to achieve zero illegal deforestation by 2030 and enhance its market share in Europe by utilizing the Rural Environmental Registry (CAR) as a sustainability certificate.