Several major European and US financiers, including HSBC, Bank of America, Santander and the Netherlands’s biggest pension fund have helped bankroll what has been named the “world’s worst deforestation crisis” in Paraguay, holding or increasing shares in meatpacking giants accused of deforestation and land-grabbing in South America’s second largest forest, the Gran Chaco.
Some of the world’s biggest financiers have been bankrolling meatpacking giants linked to deforestation in Paraguay’s richly forested Gran Chaco region - with some increasing their shareholding tenfold in the last two years.