Swiss Re accused of insuring illegally deforested farmland in Brazil – Gudstory

Swiss Re, an insurance group based in Zurich, took out at least 19 policies from 2016 to 2022 for large farms that have been proven by authorities to be involved in illegal deforestation, according to related NGO Public Eye. With stability.

investigative organization reporter brazil Released a report alleging that Swiss Re profited from insurance policies made on illegally deforested land in Brazil. From the data collected, it was found that Swiss Re was ranked fourth last year for agricultural contracts concluded as part of the state subsidy program.

The total area insured by the program was 659,000 hectares. This includes Manto Verde, a 2,400-hectare farm on which the (Recovery) Group had taken out 17 insurance policies since 2016. However, Manto Verde had long been declared a restricted area by the authorities due to illegal deforestation.

reporter brazil Cases were also documented where Swiss Re signed insurance contracts with farms that illegally farmed in indigenous protected areas and used armed violence, including one client who was a defendant in a murder case. When he took out three insurance policies. Another client was under investigation for allegedly using slave labor on his coffee farm.

Swiss Re’s sustainability report last year noted that the group aims to neutralize its greenhouse gas emissions by 2050. However, the Observatorio do Clima said Swiss Re had ignored climate policy responsibility in its transactions in Brazil, given the gross emissions from deforestation in the country. In 2021, it exceeded even a country like Japan.

reporter brazilThe research was financed by the Investigation Award, a grant from Public Eye aimed at supporting media professionals and NGOs in investigating the activities of Swiss companies in developing countries and when investigating human rights violations, environmental What can they do when it comes to damage. or financial crime.

The report was prepared by Andre Campos, Naira Hofmeister, Gil Alessi, France Junior, Ruy Sposatti, Karolina Motoki and Bruna Bronowski.

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