Tech & Science American funds finance deforestation, according to Amazon Watch

23:05  27 october  2020
23:05  27 october  2020 Source:   rfi.fr

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A new report from Amazon Watch shows for the first time how firms that fuel the destruction of the Brazilian Mounting Environmental, Rights Rollbacks and Deforestation in Brazil Traced Back to Companies Demand an Amazon Ceasefire: Tell BlackRock to Stop Financing Amazon Fires!

Amazon Watch named 23 importing companies that have trade or financial ties with fined Brazilian Some Brazilian exporting companies linked to deforestation also receive high inflows of financing On the financial side, the report points strongly to BlackRock, the American global investment

Smoke rises from a burnt area of land at the Xingu Indigenous Park, Mato Grosso state, Brazil, in the Amazon basin, on August 6, 2020 © CARL DE SOUZA Smoke rises from a burnt area of ​​land at the Xingu Indigenous Park, Mato Grosso state, Brazil, in the Amazon basin, on August 6, 2020

Des American financial groups are contributing to the destruction of the environment in the Amazon and violations of indigenous rights by pouring billions of dollars into companies with questionable behavior, according to a report released Tuesday by Amazon Watch.

The report published by the NGO with Apib, the Association of Indigenous Peoples of Brazil, points to BlackRock, Citigroup, JPMorgan Chase, Vanguard, Bank of America and Dimensional Fund Advisors.

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The deforestation in July, which followed sharp year-on-year rises in May and June, was the largest since Mr Bolsonaro’s term started in January and the The pace of destruction has sparked tensions between the indigenous populations who live in protected areas of the Amazon and their supporters

According to Juliana Santiago, who heads the Amazon Fund at BNDES, Brazil’s large development bank, this was a leading-edge approach back in 2008, when REDD+ IBAMA has been heavily financed via the Amazon Fund . Image courtesy of IBAMA. Brazil retreats from deforestation goals.

These financial groups have in total invested more than 18 billion dollars (15.2 billion euros) over the past three years in mining, energy or agribusiness companies involved in "a series of abuses "in the world's largest rainforest, according to the report.

"Leading financial groups (...) are using their clients' money to encourage the irresponsible behavior of companies involved in the violation of indigenous rights and the destruction of the Amazon rainforest," accused the program director from Amazon Watch, Christian Poirier.

"This financial complicity in the destruction (of the Amazon) contradicts the human rights promises made by some of these companies, exposes their investors to significant risks and contributes significantly to the growing global biodiversity crises and climate, ”he continues.

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Even in America , beef consumption contributes to Amazon deforestation . Cargill, a US company, is the According to their estimates the Brazilian Amazon lost 25,000 km² annually to deforestation from Universities are losing funding , scientific research is getting scrapped, etc. Any and all who

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The authors of the report studied the investments of these firms in nine Brazilian and multinational companies, including the mining groups Vale and Anglo American, the agribusiness companies Cargill and JBS, and the energy company Eletronorte.

These groups are grabbing land illegally and resorting to violence against indigenous people, deforestation and the use of dangerous pesticides, accuse Amazon Watch and Apib.

According to this report, JBS, the world's largest producer of meat, is supplied by farms located on reserves of the Uru-Eu-Wau-Wau and Kayabi peoples, in the Brazilian Amazon.

The mining group Vale is for its part accused of contaminating water and of not respecting its commitments aimed at compensating for the impact of its activities in indigenous territory.

These conflicts have resulted in an increase in violence against the indigenous peoples of the Amazon, with a 135% increase in land invasions last year and the murder of seven tribal chiefs.

Most of the companies singled out have denied any irregularities in the Amazon.

Vale, Cargill and JBS indicated that they presented material that contradicted the report. Financial groups that invest in these companies have also rejected any irregularities.

"Deforestation and indigenous rights are crucial issues (...) When companies are poorly managed or progress is not sufficient, we (as investors) vote against their management," said a door -speaking of the asset management firm BlackRock.

jhb-pt / lg / etr

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