Upholding the Principles of the Amazon Soy Moratorium Is Essential for Biodiversity, Indigenous Peoples’ Rights, and Financial Stability

The Indigenous Advisory Group (IAG) of the Banks and Biodiversity Initiative supports the joint call for financial institutions to uphold the zero-deforestation criteria of the Amazon Soy Moratorium (ASM). While the Moratorium agreement itself may have been rolled back on the basis of Brazilian political interests, financial institutions should recognize the value and importance of upholding its principles as a matter of risk management and adherence to global norms. For two decades, the Moratorium has served as a practical, evidence-based measure to curb biodiversity loss, reduce climate risk, and prevent serious human rights harms affecting Indigenous Peoples. Financial sector leadership is critical to preserving credible zero-deforestation commitments and protecting a globally critical ecosystem.

For Indigenous Peoples of the Amazon, the ASM has been more than a sourcing framework. It has helped safeguard territories, cultures, and fundamental rights – and upholding its fundamental criteria can continue to do so. Soy expansion into forest areas is consistently associated with land encroachment, tenure insecurity, conflict, and erosion of Indigenous rights and governance. As deforestation advances, risks to land rights, self-determination, food systems, and community safety increase, creating material human rights exposure within financial portfolios.