Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

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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

 
 

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The Commission is set to announce its proposal for a new ‘mandatory’ lobby transparency register next week. During the Summer, the Commission made public the input it received via consultation on the topic. Besides a general call from public and civil society to boost transparency systems, they also showed corporate lobby groups and trade associations’ spin, promoting transparency values while recommending limited implementation, loopholes and toothless management.

CEO's immediate reaction to the latest revelations from the team behind the Panama Leaks.

The European Commission is about to propose a regulation on acrylamide, a dangerous contaminant formed in many starchy foods when cooked at high temperatures. But the regulation itself consists in referring to codes of best practices developed by lobby groups representing the food industry.

A new report on the Comprehensive Economic Trade Agreement (CETA) reveals how the trade deal could make EU member states vulnerable to costly lawsuits from North American investors that threaten public interest.

 
 
 
 
 
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