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 published on Tuesday by Amazon Watch.
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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.
These financial groups have in total invested more than 18 billion dollars (15.2 billion euros) over the last three years in mining, energy or agro-trading companies involved in
"a series abuse ”
in the world's largest rainforest, according to the report.
"Leading financial groups (...) are using their clients' money to encourage irresponsible behavior by companies involved in the violation of indigenous rights and the destruction of the Amazon rainforest"
, accused the director of Amazon Watch programs, 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 crises in terms of biodiversity and climate, ”
he continues.
Cargill, JBS or even Vale questioned
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 not respecting its commitments to offset the impact of its activities in indigenous territory.
These conflicts have resulted in increased violence against indigenous peoples in the Amazon, with a 135% increase in land invasions last year and the murder of seven tribal chiefs.
Most of the companies pointed out have denied any irregularities in the Amazon.
Vale, Cargill and JBS have indicated that they have presented material that contradicts the report.
Financial groups that invest in these companies have also rejected any irregularities.
"Deforestation and indigenous rights are critical issues (...) When companies are poorly managed or progress is not sufficient, we (as investors) vote against their leadership,"
said a spokesperson. word of the asset management firm BlackRock.