Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

  • Dansk
  • NL
  • EN
  • FI
  • FR
  • DE
  • EL
  • IT
  • NO
  • PL
  • PT
  • RO
  • SL
  • ES
  • SV

Banks profit on hunger

European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to Farming Money, a new report just released.

European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to Farming Money, a new report just released.

European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to a new report released today.

Farming Money: How European banks and private finance profit from food speculation and land grabs analyses the activities of 29 European banks, pension funds and insurance companies, including Deutsche Bank, Barclays, RBS, Allianz, BNP Paribas, AXA, HSBC, Generali, Allianz, Unicredit and Credit Agricole.

It reveals how these financial institutions are significantly involved in food speculation, and the direct or indirect financing of land grabbing.

The environmental and development organisations which collaborated on the report, which includes Corporate Europe Observatory, are calling for strict regulation to rein in these destructive activities.

The report was produced by Friends of the Earth Europe, with contributions from Campagna per la Riforma della Banco Mondiale (Italy), Banktrack (Europe), World Development Movement (UK), WEED (Germany), CNCD (Belgium), SETEM (Spain) and CEO (Europe).

Read the full report at http://www.foeeurope.org/publications/2012/Farming_money_FoEE_Jan2012.pdf

 
 

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Commission refuses to act on the recommendations of the European Ombudsman regarding tobacco industry lobbying.

CEO turns the spotlight on another of the interest groups operating within the European Parliament.

At least one developer of new GM crops – Canadian-based Cibus – has attempted to bypass the European policy process by presenting policy makers with a fait accompli: decisions by individual Member States on the regulatory status of new techniques, as well as prematurely-launched trials of new GM crops.

The biotech industry is staging an audacious bid to have a whole new generation of genetic engineering techniques excluded from European regulations. The pending decision of the European Commission on the regulation of these so-called 'new GMOs' represents a climax point in the ongoing below-the-radar attack by industry on GM laws.

The corporate lobby tour

Stop the Crop

Alternative Trade Mandate