Farming money: how European banks and private finance profit from food speculation and land grabs
European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to Farming Money, a new report released. Farming Money: How European banks and private finance profit from food speculation and land grabs analyses the activities of 29 European banks, pension funds and insurance companies, including Deutsche Bank, Barclays, RBS, Allianz, BNP Paribas, AXA, HSBC, Generali, Allianz, Unicredit and Credit Agricole. It reveals how these financial institutions are significantly involved in food speculation, and the direct or indirect financing of land grabbing.