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Slash and sell
The report alleges that Brookfield Asset Management oversaw the deforestation of approximately 9,000 hectares of the Brazilian Cerrado between 2012 and 2021 across eight farms, subsequently selling these assets in a 'slash and sell' strategy. It further details a case where a Brookfield-controlled firm was fined R$800,000 for slave labour offences at Fazenda Colorado and an attempt to evict the Kayabí Indigenous community from ancestral lands in the Amazon via the company Agropecuaria Vale do Ximari. The document highlights a contradiction between these actions and the public roles of Brookfield Chair Mark Carney, a co-founder of the Glasgow Financial Alliance for Net Zero (GFANZ), and the firm's ESG policies. It argues that voluntary initiatives like GFANZ are insufficient and calls for mandatory government legislation on environmental and human rights due diligence for the financial sector.
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Document type: Report
Environmental and Social Management Framework & Process Framework & Indigenous and Traditional Peoples Planning Framework
The ARCA Project aims to protect the Caatinga biome in Northeast Brazil by expanding and improving the management of the National System of Protected Areas (SNUC) and conserving endangered species. The project is funded by a $9,880,000 GEF grant and is executed by FUNBIO. It focuses on nine existing protected areas across Bahia, Pernambuco, Piauí, and Paraíba, targeting a minimum of 4,581,821 hectares. The framework outlines rigorous safeguards to protect Indigenous Peoples, Traditional Peoples, and Local Communities (IP/TP&LC), including a commitment to Free, Prior and Informed Consent (FPIC) and the development of Livelihood Restoration Plans (LRPs) to mitigate economic impacts from resource access restrictions. The project also includes a Gender Action Plan to address systemic inequalities and risks of gender-based violence (GBV) and sexual exploitation, abuse, and harassment (SEAH).
AI-generated
This summary is written by a language model reading the source document. It is not the publisher's words and is not a substitute for the original.
Document type: Report