Stay updated with breaking news from Ruth kimmelshue. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Trader Cargill, pension fund TIAA linked to land grabs in Brazil’s Cerrado Global commodities giant Cargill continues to buy soybeans from a farm in Brazil that cultivates on illegally acquired and deforested land. The Parceiro farm in Bahia state, owned by SLC Agrícola, has been implicated in a $200 million land-grabbing scheme being investigated by Brazilian authorities. Also implicated in the case is the U.S. teachers’ pension fund TIAA, an investor in one of the parcels of illegally acquired land that effectively overlaps with SLC’s farm. Cargill, which has a zero-deforestation commitment for its supply chain from the Cerrado, says it placed no restrictions on soybean purchases from SLC in 2020; it bought more than a quarter of the grower’s crop the previous year. ....