STRICT EMBARGO UNTIL SEPTEMBER 5 4PM CET / 10AM EST
New report debunks investors’ effort to greenwash destruction of rainforest and livelihoods
Oakland, USA, 5 September, 2012 – An American owned company with a track record of illegality and links to private equity giant Blackstone Group threatens to destroy rainforests and dislocate local communities in Cameroon.
From its very name, American-owned SG Sustainable Oils Cameroon, Ltd. (SGSOC) presents a pro-environment, pro-resources image. This is supported by an impressive-sounding partnership with an NGO by the name of All for Africa and as a package typifies the kind of convoluted modern-day foreign investment going on in Africa. It is sadly all too familiar to communities on the ground.
Par son nom même, la société américaine SG Sustainable Oils Cameroon, Ltd (SGSOC) revendique son attachement à la préservation de l’environnement et à une exploitation durable des ressources naturelles. Elle met aussi en avant un partenariat avec All for Africa, une ONG prétendument de ‘développement’, à travers un montage emblématique des circonvolutions qu'empruntent désormais les investissements fonciers en Afrique... Les communautés locales ne sont malheureusement que trop familières de...
Press Statement from Anuradha Mittal, Executive Director of the Oakland Institute, on the Institute’s latest report, Lives on Hold, which documents the impact of AgriSol’s land deal in Tanzania. Released at press call, July 9, 2012
Report embargoed until 12:00 am EDT, JULY 9, 2012
Contact: Anuradha Mittal
(510) 469-5228; email@example.com
Lives on Hold
AgriSol's Land Deal in Tanzania Creates an Uncertain Future for More than 160,000 People
In June 2011, the Oakland Institute (OI) released details of the largest land deal in Tanzania, which had been hidden away from public scrutiny prior to that and obscured from national debate and discussion. The deal involved Iowa-based Summit Group and the Global Agriculture Fund of the Pharos Financial Group working in partnership with AgriSol Energy LLC and Iowa State University College of Agriculture and Life Sciences.
For Immediate Release--July 9, 2012
After a prolific year of publishing policy reports and briefs that reveal the inner workings of crooked land deals in Africa, I was excited to have the opportunity to step away from the computer screen and take our call to end land grabs directly to investors on their home turf.
The surge in large-scale commercial interest in land by domestic, international, private, and public actors has prompted a wide variety of stakeholders to consider how such investments may contribute to, rather than erode, local development priorities. The emerging body of evidence points to the significant risks of negative impacts on: access to and control over natural resources, household economies, food security, human rights, and the environment.