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23 Nov 2020

Association of Brazil’s Indigenous Peoples (APIB) in partnership with Amazon Watch

Complicity in Destruction III: How global corporations enable violations of Indigenous peoples' rights in the Brazilian Amazon

The flow of foreign investments into companies operating in the Brazilian Amazon encompass an intricate international network that financially enables actors responsible for egregious socio- environmental crimes. Within this extractive economic paradigm, Indigenous peoples are often treated as an “obstacle to development” and their lands are invaded, occupied, looted, and destroyed... This report’s findings show that companies representing three key Brazilian sectors – mining, agribusiness, and energy – have been directly or indirectly involved in conflicts affecting Indigenous peoples and their territories.

... Case studies are presented covering the Amazonian states of Pará, Maranhão, Mato Grosso, Roraima, and Amazonas, involving the mining companies Vale, Anglo American, Belo Sun, and Potassio do Brasil; agribusiness companies Cargill, JBS, Cosan/ Raízen; and energy companies Energisa Mato Grosso, Bom Futuro Energia, Equatorial Energia Maranhão, and Eletronorte... our findings identify six major U.S.-based financial institutions – BlackRock, Citigroup, JPMorgan Chase, Vanguard, Bank of America, and Dimensional Fund Advisors – that contributed more than US$18 billion (100 billion BRL)2 to nine of the eleven companies profiled between 2017 and 2020. Unraveling this network demonstrates how highly problematic companies operating in the Brazilian Amazon are intertwined with global financial leaders, shining a spotlight on corporate malfeasance and its enablers.