TIAA-CREF, U.S. Investment Giant, Accused of Land Grabs in Brazil
SÃO PAULO, Brazil — As an American investment giant that manages the retirement savings of millions of university administrators, public school teachers and others,
NGO report attacks pension fund 'land-grab' in Brazil
Pension providers including Sweden’s AP2, Canada’s Caisse de dépôt et placement du Québec and TIAA-CREF have been heavily criticised in a report claiming their Brazilian farmland investments are linked to a local businessman accused of land-grabbing and suspected of involvement in money laundering.
The report also says farms have been acquired through a company structure that avoids Brazil’s tight regulations on foreign investment.
The research was carried out by the NGOs GRAIN, which supports small farmers in working for community-controlled and biodiversity-based food systems, Rede Social de Justiça e Direitos Humanos, Inter Pares and...
US Pension Fund TIAA-CREF Involved In Brazil Land Grabs
US. educator pension fund TIAA-CREF has promulgated a reputation of upholding socially responsible values, and even goes as far as highlighting its role in drafting UN principles of transparency, environmental sustainability and respect for land rights in farmland purchases.
However, it turns out that the U.S. pension fund titan and its partners may have done some naughty things in a country which