TIAA, Harvard and the other institutions buying up farmland in Brazil and elsewhere around the world must stop pretending that their practices are sustainable.
BlackRock, the $6.5 trillion Wall Street asset manager, has quietly released a statement on the company’s approach to engagement in the palm oil sector — an industry notorious for its role in destroying the planet’s last forests.
The palm oil industry is responsible for destroying some 24 million hectares of Indonesian rainforest since 1990, much of it through burning. But because huge areas of Indonesia’s vast peat bogs have been drained and dried out to make way for the plantations, the industry has also unleashed flooding in places like Sumatra’s wetlands — flooding that claims lands and lives in a way that is largely invisible.
Since 2017, Morales has been engaged in a battle against the U.N. commission, which was investigating his alleged violations of campaign finance law as well allegations of corruption by many of his associates, including close family members. The commission has also helped the Guatemalan attorney general bring charges against Guatemalan military leaders for massacres of indigenous peoples, as well as for acts of corruption by Guatemala’s former president, Otto Perez Molina, and several business executives…
If you look at BlackRock’s actual investments, you could be forgiven for thinking that their purpose is to drive civilization off the climate cliff while profiting from the wreckage.
Staff at Friends of the Earth worked closely with the reporter, ProPublica’s Abrahm Lustgarten, to share background information and analysis, supply contacts in Indonesia and bring him along on public events we hosted at the U.S. Senate and the San Francisco climate summit. Here are four takeaways from the article.
Earlier this week Reuters reported on a bribery scandal in Indonesia that has resulted — so far — in the arrests of seven people, including senior executives of palm company Sinar Mas Agro Resources and PT Binasawit Abadi Pratama.
The danger facing critics of the palm oil industry is particularly high, as the industry appears to have deep ties to narco-trafficking and money-laundering — and even international conservation efforts appear bent on controlling disputed territories without fully considering the needs of the region’s most affected communities.