theguardian.com
Santander Accused of Funding Deforestation in Argentina's Gran Chaco
A new report accuses Santander bank of indirectly funding deforestation in Argentina's Gran Chaco region by financing the Argentinian agribusiness group Cresud, which has deforested over 170,000 hectares since 2000, violating Santander's own deforestation policy.
- What systemic factors, beyond Santander's actions, enabled the extensive deforestation in the Gran Chaco, and what role did weak regulations and outdated laws play?
- Santander's actions highlight a broader issue of financial institutions funding environmentally destructive practices despite stated sustainability commitments. The $1.3 billion in financing for Cresud since 2011, including significant loan contributions and underwriting of bonds, directly contributed to deforestation in the Gran Chaco, an area vital for biodiversity and Indigenous communities.
- How did Santander's financing of Cresud contribute to deforestation in the Gran Chaco, and what are the immediate consequences for the region's ecosystem and Indigenous communities?
- Global Witness's report reveals that Santander bank indirectly funded deforestation in Argentina's Gran Chaco region by financing Cresud, an Argentinian agribusiness group responsible for deforesting over 170,000 hectares. This financing occurred despite Santander's 2018 deforestation policy and 2050 net-zero emissions commitment.
- What are the long-term implications of continued deforestation in the Gran Chaco, considering the region's biodiversity, climate vulnerability, and the rights of Indigenous communities, and what fundamental changes are required to address this?
- The unchecked deforestation in the Gran Chaco, fueled by weak regulations and financing from institutions like Santander, poses severe risks. Continued deforestation could lead to the complete disappearance of Paraguay's Gran Chaco region by 2080, exacerbating climate change impacts and threatening the livelihoods of millions. This necessitates stronger international scrutiny and regulatory reforms.
Cognitive Concepts
Framing Bias
The report's framing emphasizes the negative environmental and social impacts of deforestation, clearly highlighting the role of Santander in financing these activities. The use of terms like "ecocide" and the description of the Chaco as a "climate-critical forest" sets a strong emotional tone and reinforces the severity of the situation. The headline and introduction immediately focus on the devastating effects of deforestation, setting the stage for a critical assessment of Santander's involvement. While this is impactful, it could be balanced with a more neutral overview of the economic factors influencing the region's development.
Language Bias
The report uses strong language to describe the environmental damage, such as "ecocide" and "razing the forests to the ground." While accurately reflecting the severity, this might be perceived as emotionally charged. Neutral alternatives could include "severe environmental damage" or "extensive forest clearing." The repeated use of phrases emphasizing the negative impacts further strengthens this tone. The report largely avoids loaded language when describing the actions of Santander, primarily using factual accounts of investments and financing.
Bias by Omission
The report focuses heavily on Santander's role and the deforestation caused by Cresud, but provides limited details on the specific actions taken by other banks involved in the financing. While acknowledging multiple banks' participation, the depth of analysis primarily centers on Santander, potentially omitting crucial information about the culpability and actions of other financial institutions. Additionally, the long-term impacts on the climate and the specific consequences for displaced indigenous communities beyond the immediate loss of land and resources could be explored in more detail.
False Dichotomy
The report doesn't present a false dichotomy, but it does strongly imply that the current system is fundamentally broken and requires complete overhaul. While this might be a valid conclusion, the analysis could benefit from exploring intermediate solutions or incremental improvements, rather than presenting a solely binary choice between the status quo and complete systemic transformation.
Sustainable Development Goals
The article details extensive deforestation in the Gran Chaco region driven by agricultural expansion, impacting biodiversity, Indigenous communities, and contributing to climate change. Specific quotes highlight the "ecocide" underway, the loss of 8 million hectares of native forest in 25 years, and the displacement of Indigenous communities whose traditional livelihoods are threatened. The activities of Cresud, financed by Santander, are central to this destruction.