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Investor Presentaiton

WHEN WILL BRAZILIAN AGRIBUSINESS DISENTANGLE ITSELF FROM DEFORESTATION? This study uses an innovative approach to demonstrate that by devaluing land prices in 93.5% of Brazilian municipalities, deforestation benefits only those producers who have the conditions to increase their cultivated area. It also demonstrates that this is to the detriment of those producers who are unable to increase their cultivated area, due to financial, management, scale, labour force or land supply limitations. If you are a producer that increased your area of cultivation over the 2006- 2017 period, deforestation was a subsidy for your land acquisition, even if you did not cut down a single tree. However, if we look more closely, benefits obtained by producers who expanded their areas are largely concentrated in 1% of municipalities and 2.4% of establishments. A very small portion of the total number of municipalities and agricultural producers actually benefited in any real way. Producers who bet on the intensification strategy, instead of expanding their cultivated area to increase production, now have one more piece of evidence for the harmful effects of deforestation. Of course, this is on top of deforestation's well-known negative impact on climate change, and on the image of Brazilian producers among consumers who demand environmental compliance. Given this study's evidence that any profit derived from deforestation is concentrated among a small portion of producers, coupled with the well-established consensus that it is no longer necessary to deforest in order to produce, we must examine why Brazilian agribusiness, in large part, does not take a stand against those who, in order to expand their production capacity, choose to increase their cultivated area through deforestation. In practice, a silent tolerance of illegal deforestation continues to pervade, as does the defence of legal deforestation. Sector leaders have failed to mobilise the full force of their political weight to lobby the federal government and parliamentarians - especially the Frente Parlamentar da Agropecuária - on a number of issues: demanding effective actions for combatting illegal deforestation and land grabbing in the Amazon and Cerrado, halting the dismantling of environmental legislation, and putting an end to the routine land title regularisation acts that effectively reward those who deforest. Furthermore, in order to disentangle agribusiness from deforestation, concrete measures are needed to ensure the traceability of suppliers' production chains, the compulsory registration and geo- referencing of properties, and the regulation and official monitoring of this data. Only with reliable official information about those who deforest will investors be able to properly direct resources towards companies and producers who are truly committed to environmental preservation. Likewise, with this information at their disposal, consumers can make better-informed choices and citizens will know how and where public resources are actually being channeled (subsidised credit, debt amnesty, tax exemption, etc.). 6 See statement (in Portuguese) by the Minister for Agriculture, Livestock and Supply (MAPA), Tereza Cristina, on 23/01/2020, recorded by Folha de S. Paulo newspaper at <https://www1.folha.uol.com.br/ambiente/2020/01/nao-precisamos- desmatar-para-comer-basta-aumentar-a-produtividade-diz-tereza-cristina.shtml> accessed on 25/01/2022. 7 The Brazilian Farming Parliamentary Front. HOW DOES BRAZILIAN AGRIBUSINESS BENEFIT FROM DEFORESTATION? 23
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