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8 Nov 2022

Brazil: Investment bank UBS BB allegedly financed BrasilAgro and Marfrig, agricultural companies suspected of violating Indigenous and environmental rights

Wikimedia Commons

The organization Society for Threatened Peoples (STP) published a report in which it denounced that the Swiss bank UBS, through its investment bank in conjunction with the Bank of Brazil, UBS BB, offered financial resources from global investors to Marfrig and Brasil Agro, companies which, according to STP, are involved in violations of indigenous rights and environmental damage.

Based on a research by the Center for the Analysis of Climate Crimes, the report highlighted as the main violations the illegal deforestation, fires, illegal occupation of indigenous lands and threats to community leaders.

The BHRRC invited the banks UBS and Banco do Brasil to comment on the report and their responses are available.

Company Responses

Banco do Brasil View Response