Global investors managing $4.1 trillion in assets have warned Indonesia’s government that a contentious job creation bill passed by parliament on Monday could pose new risks to the country’s tropical forests.

In a letter seen by Reuters, 35 investors expressed their concerns, including Aviva Investors, Legal & General Investment Management, the Church of England Pensions Board, Netherlands-based asset manager Robeco and Japan’s largest asset manager, Sumitomo Mitsui Trust Asset Management.

“While we recognize the necessity for reform of business law in Indonesia we have concerns about the negative impact of certain environmental protection measures affected by the Omnibus Bill on Job Creation,” Peter van der Werf, senior engagement specialist at Robeco, said in a statement.

...The investors said they feared the legislation could hamper efforts to protect Indonesia’s forests, which would in turn undermine global action to tackle biodiversity loss and slow climate change.