Finan-what?
The term “financialization” may sound overly complex and academic, or perhaps even made up. It could lead some people to ask, finan-what? However, it is increasingly being used in civil society debates and reflections, particularly with regard to the growing financial speculation tied to the goods and components of nature, including forests, which are of fundamental importance not only for the lives of local communities, but for the entire planet.
Bulletin articles
During the Rio+20 summit, incidents related to the event itself, such as the expulsion of a Mozambican activist, and the daily reality faced by the local population, who suffer at the hands of the big corporations sponsoring the official conference, demonstrated that corporate power has no limits.
Those who were in Rio de Janeiro between June 15 and 23 were able to observe three parallel and different but interconnected processes. The first process, a closed one, was the Conference on Sustainable Development better known as Rio+20, which took place in Riocentro, a conference centre far from the city centre and heavily protected by thousands of police officers and armed forces.
The Philippine A. Brown Company, Inc. is engaged in the business of oil palm plantation development and milling. In 2010, the company started planting oil palm on 520 hectares of public land claimed by the Higaonon indigenous people.
As part of the People's Summit during Rio +20 a Global Campaign Against Transnationals was launched, under the slogan “Dismantle Corporate Power and put an end to impunity”. The campaign aims to unite hundreds of campaigns, networks and social movements and organizations that are fighting against the impacts of transnational corporations on human rights, nature and the planet.
Allies from 26 countries in Asia, Africa, America and Europe have met in West Sumatra, Indonesia, from July 10 to 15, 2012,convened by La Via Campesina and the Global Campaign for Agrarian Reform under the issue “Agrarian Reform and the Defense of Land and Territory in the 21st Century: The Challenge and the Future”.
Oil palm has traditionally been part of the culture of West and Central African communities, who have planted it on their own lands or collected its fruits, leaves or sap from the forest. The native crop has been locally processed to obtain palm oil for domestic use or sold in the local markets to produce palm wine (see the WRM briefing “Oil palm in Africa: Past, present and future scenarios”,http://wrm.org.uy/countries/Africa/Oil_Palm_in_Africa.html).
Rainforest Rescue has started a campaign to demand Deutsche Bank to dissociate itself from the Malaysian palm oil giant FELDA Global Ventures Holding, which wants to raise three billion dollars on the stock market to establish new oil palm plantations in Indonesia and Africa. Rainforest areas are going to be bought, destroyed and turned into huge monocultures.
The Deutsche Bank, one of Germany's largest banks, which pretends to be ecologically and socially harmless, is helping FELDA to search for investors.
In Chile, the onslaught of big forestry business groups backed by the state means more than 3 million hectares covered with industrial monocultures of pines and eucalyptus.
Some of the world’s most disreputable corporations – like Rio Tinto, Dow and BP – are providing sponsorship to the Olympics Games, using it as a smokescreen for environmental and human rights abuses the world over.
This edition of the WRM bulletin is being released as the Rio+20 People’s Summit is beginning in Rio de Janeiro, Brazil. In May, during a meeting of the International Coordination Group of the People’s Summit (*) – of which WRM forms part –an international call was launched. We would like to share with all of our bulletin readers this message for the unity and mobilization of the peoples in defence of life and the commons, for social and environmental justice, and against the commodification of nature and the “green economy”:
In just a few days, the United Nations Conference on Sustainable Development, or Rio+20, will begin in Rio de Janeiro, Brazil. Rio+20 is taking place in the same city, 20 years later, as the 1992 United Nations Conference on the Environment and Development, better known as the Earth Summit. Considered the first international mega summit, this 1992 meeting was attended by 8,000 officially registered delegates and 108 heads of state and government. A parallel civil society forum drew more than 5,000 participants.