amazonrainforest
By Timothy J. Killeen Vale SA Brazil’s second most valuable company is also the fifth largest global mining corporation. In 2022, it was as ranked by the Refinitiv ESG framework as best in its class of ‘diversified miners’ (1 out of 615). This score is remarkable considering Vale is being sued by the SEC for deliberately misleading investors of its ESG-related risks prior to the tailings pond disasters at Brumadinho in 2019. Ironically, this high ranking is a direct consequence of that disaster, which led to a 50 % drop in its share price and the dismissal of its CEO. The company subsequently ...
Mongabay
By Maxwell Radwin Mining can take its toll on the environment when done irresponsibly, especially in vulnerable ecosystems like the Amazon Rainforest. Deforestation and river pollution are common complaints from communities living near a mine. Heavy metals and chemicals like mercury and cyanide often kill off flora and fauna. But that environmental loss can also be viewed as an economic one. Damaging carbon sinks and natural aquifers can be extremely costly in the long run, leading to mudslides, drought, climate change and poor air quality, among many other things. Framing environmental impact...
Mongabay
By Maxwell Radwin There are hundreds of oil and gas operations across the Amazon Rainforest. And while critics have gone after them for reckless environmental damage, those companies also don’t work alone. They need support from big banks that provide direct funding through loans and underwriting bonds, which themselves need to be regulated, critics say. In recent years, increasing pressure on the banks has led to new environmental policies meant to minimize financing for projects tied to deforestation, pollution and human rights violations. The banks tend to celebrate their policies for being...
Mongabay
By Timothy J. Killeen Mining and energy companies invest in the Amazon because it is profitable. Opportunities are large because of geology, but development is costly due to the region’s isolation and lack of infrastructure. The decision to pursue a mineral exploitation project depends on several factors, but there are two primary technical criteria: (a) the richness of the mineral deposit, which determines the cost of extraction; and (b) the volume of the geological formation, which determines the productive lifetime of a mine or oil and gas field. Taken together, these two factors allow inve...
Mongabay
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