By buying up US farmland and leasing it to large-scale farm machinery operators, TIAA is closing the door on policies that could revive the more diversified farming that used to underlie healthy local economies.
Grassroots International is supporting partners and allies in a global campaign to stop violent and illegal land grabs at their source: the massive financial investments of pension funds and college endowments.
Harvard University, the US pension fund manager TIAA/Nuveen and Japan's Mitsui are among the foreign companies buying up Brazilian farmlands that are responsible for over 420,000 ha of deforestation in the Cerrado since 2000.
Depuis une dizaine d’années, l’argent des fonds de pension alimente un énorme investissement dans les terres agricoles. Le nombre de fonds de pension investissant dans les terres agricoles et les sommes d’argent déployées à cette fin sont en augmentation, mais tout se fait discrètement.
Money from pension funds has fuelled the financial sector's massive move into farmland investing over the past decade. The number of pension funds involved in farmland investment and the amount of money they are deploying into it is increasing, under the radar.
Brazilian agribusiness corporations have created partnerships with pension funds in the United States, Canada, and Europe for the “outsourcing” of land operations that are analogous to the international outsourcing of labor.
On the occasion of the publication of Transnational Corporations and Land Speculation in Brazil, Mary Taylor of LeftEast spoke with Fábio Pitta, Devlin Kuyek and Attila Szőcs about the broader implications of the report's findings.