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記事

2021年12月13日

著者:
Istoé

Brazil: Commerzbank, Deutsche Bank and DZ Bank reportedly invested more than US$1 billion in mining companies involved in conflicts in the country

MST

"German banks finance mining companies involved in conflicts in Brazil", 13 December 2021

...Over the past five years, three German banks that are signatories to the UN principles - Commerzbank, Deutsche Bank and DZ Bank - are said to have invested more than $1 billion in mining companies involved in conflicts in Brazil, according to a recent report by Observatório da Mineração.

...[The]...Commerzbank is mentioned...for the investment of 627 million dollars in the British mining giant Anglo American, which operates in the Minas-Rio pipeline project - target, for at least two years, of accusations of environmental crimes...

DZ Bank, in turn, is mentioned for having $118 million in shares in that same British conglomerate.

In 2018, the Minas-Rio pipeline ruptured twice, spilling thousands of tons of iron ore...

...[A]...Anglo American said it follows legislation and high international standards, but that it would "not comment on its business relationships with financial institutions".

Commerzbank also reaffirmed all its socio-environmental commitments, but "asked for understanding that it cannot comment on individual client relationships".

DZ Bank, meanwhile, told DW Brazil that the fund management company belonging to the DZ Bank Group establishes processes for monitoring and managing environmental and human rights risks in its investment universe.

...[The]...Deutsche Bank, for example, is named as a $59 million investor in Swiss company Glencore...which until May 2021 held shares in CSN Mineração...

In April, the Itaguai city government fined CSN Mineração on charges it had dumped iron ore directly into Sepetiba Bay without treatment and operated with an environmental license that had expired nine years ago.

CSN Mineração vehemently denied all the accusations. The company forwarded to the report the environmental license to operate in Itaguai and also its renewal request....

...[The]...Deutsche Bank...said that for legal reasons it would not comment on the specific case involving Glencore and CSN Mineração, but that as a global bank it has "an important role to play in promoting the transition of the economy towards greater sustainability..."

(Source translated by the BHRRC)