pensions
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Credit: Renaldo Matamoro/Unsplash
Pension funds' role in Brazil's farmland controversy
Global pension funds are implicated in the deforestation of Brazil's Cerrado, impacting local communities and climate goals.
In short:
- Armed men, allegedly hired by land claimants, have forcibly displaced local communities in Brazil's Cerrado, destroying homes and livelihoods.
- Major global pension funds, including TIAA, have invested billions in Brazilian farmland, contributing to deforestation and land conflicts.
- The destruction of the Cerrado, a key carbon sink and biodiversity hotspot, poses significant challenges to Brazil's climate commitments and local ecosystems.
Key quote:
“There’s a lot of evidence that investors who buy land in Latin America, for instance, but also in Southeast Asia, are responsible for deforestation — directly or indirectly.”
— Lucas Seghezzo, professor of environmental sociology at the National University of Salta
Why this matters:
As forests are cut down to make way for farmland, the world loses more than just trees; it loses an essential ally against global warming. In regions like the Amazon, the conversion of forest into cropland or pasture is particularly striking. This transformation not only contributes to climate change but also disrupts biodiversity, water cycles and local climates.
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Photo by Frantzou Fleurine on Unsplash
‘Sustainable’ pension funds accused of greenwashing over billions held in oil and gas firms
People investing their pensions in funds that claim green credentials are being warned they may actually be backing the world’s largest oil and gas companies.
Newsletter
Colorado lawmakers eye climate-friendly pension reform
Public employees who contribute to Colorado’s pension system have called on state lawmakers to enact a first-of-its-kind measure that would require the fund to factor the state’s greenhouse gas emission reduction goals into its investment decisions.
People in US and UK face huge financial hit if fossil fuels lose value, study shows
Individuals in rich countries face huge financial losses if climate action slashes the value of fossil fuel assets, a study shows, despite many oil and gas fields being in other countries.
Photo by Caroline Hernandez on Unsplash
Richard Curtis: The trillions in our pension pots could be key to tackling the climate crisis
With people across the world determined to make their money matter, and the demand for cleaner, greener pensions growing across society, now is the time for individuals, the financial industry and the government to put pensions at the heart of the climate agenda.
texasnewstoday.com
Why climate change threatens your retirement savings
Pensions and 401 (k) plans, along with other global economies, are "vulnerable" to climate risk, the Government Accountability Office told Congress in a recent report examining potential threats to federal officials.
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www.theguardian.com
Do you want your pension to invest in companies harming the planet?
Environmentally conscious workers are challenging their employers or providers to offer greener funds.
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