financial sector

New Oxfam, Fair Finance International and 11.11.11. report exposes how Europe’s banks and investors are blindly investing in mining companies linked to land grabs, pollution and human rights violations. This comes ahead of the EU’s Raw Materials Week.  

Major European banks and investors are backing Glencore’s toxic mining activities in Colombia and Peru. This is according to a new report by Fair Finance International, Oxfam, CooperAcción, Cinep and Censat. The report reveals that nearly 50 percent of loans and underwriting to Glencore over the last six years came from European banks like UBS and Société Generale, amounting to 41.2 billion euro.  

The richest 1% now have more wealth than the rest of the world combined. The fight against poverty will not be won until the inequality crisis is tackled.

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by