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France's biggest bank says it will stop financing firms that produce or buy beef and other goods cultivated on deforested land in the Amazon.
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BNP Paribas says it will also encourage clients not to buy produce from such areas.
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It will only finance firms that adopter zero deforestation strategy by 2025.
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In a statement, the bank said financial institutions had to contribute to the fight against forest loss.
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Environmental groups said the move sent a strong signal to companies trading commodities in the region, but pressed for faster action.
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One said BNP was giving firms five more years to cut trees with impunity.
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Soy and beef production are two off the biggest drivers off.
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Deforestation, population growth and expanding middle classes in countries like China have fueled explosive demand for soy meat and dairy goods.
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Some scientists warn that the Amazon forest, which spans nine countries, is hurtling towards destruction.
