Bloomberg magazine wins environmental prize

Bloomberg Markets magazine became the first U.S. news organization to receive Brazil’s Paul Donovan Kigar Prize for “social responsibility, conscience, vision and interest in the defense of mankind and nature.”

The prize commission honored Bloomberg Markets magazine for its defense of Brazil’s environmental resources in the story, “Plundering the Amazon.”

Authors Michael Smith and Adriana Brasileiro uncovered that multinational corporations are destroying the world’s largest rain forest to build mines, farms and cattle ranches — often in violation of national laws.

The writers also cited major companies who purchase materials that result in illegal deforestation. Following publication, Cargill, Wal-Mart and four of the world’s largest meat packers pledged to stop buying products that originate on deforested land.

Read more here.