Investors must stop land grabbing, say civil society groups4 December 2012
Banks and pension funds must stop facilitating land grabs through their investments, demand civil society groups including Friends of the Earth International.
Their call came ahead of a global farmland investment conference being held in London this week (3 - 5 December). You can read the full demands here.
Banks and pension funds are increasingly involved in large-scale acquisitions of land. Land is seen as a very attractive investment.
They have played a part in more than 200 million hectares being grabbed since 2008 with extremely damaging consequences for local populations.
Land grabbing ruins livelihoods and frequently involves violent evictions and human rights violations.
Funds at the conference will have a total potential spending power of $3 trillion for investments.
The civil society groups are warning that this money must not fund risky investments that threaten the livelihoods and food sovereignty of local communities.
Unfortunately private investment in farmland may be seen by many as low risk and positive for developing countries. Yet they are often a disaster for local communities and the environment.
Legal uncertainty and community opposition means that most farmland investments are also risky for investors. Major investors such as banks and pension funds need to urgently investigate their investment portfolios and stop funding land grabs.
Kirtana Chandrasekaran, Friends of the Earth International Food Sovereignty programme co-ordinator
© Friends of the Earth International
