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A new report released by Friends of the Earth says that the “big three” asset managers — BlackRock, Vanguard and State Street — are enabling destruction of the world’s rainforests. The three firms have voted against corporate shareholder resolutions to report on or prevent deforestation a total of 16 times. Their portfolios include $700 billion invested in companies in the Consumer Goods Forum, a corporate consortium that’s set to fail to meet deforestation targets for 2020.
