Cristiane Ribeiro
Reporter - Agência Brasil

Rio – Brazil's state-run banks have long had a policy of approving loans only after the necessary environmental impact studies have been made. Now the government says it wants private sector banks to also require that the enterprises they finance are environmentally friendly. Minister of Environment, Marina Silva, says: "This is fundamental if we are going to ensure the environmental quality of projects in any sector.... By making this the law, we link financing dynamics with legislative compliance and guarantee sustainability."

Speaking at a meeting of the Ethos Institute's International Council, Silva declared that there has been significant progress in the number of Brazilian corporations that comply with both labor regulations and environmental legislation.

Translation: Allen Bennett