This report reveals new links between Australia's big four banks and three land grabbing case studies previously documented in Oxfam's 2014 report Banking on Shaky Ground. The new report also provides evidence that, even after Oxfam first alerted the banks to their exposure to land grabs, all four banks committed tens of millions of dollars in loan facilities to the agribusiness firm Cargill. A former subsidiary of Cargill acquired large tracts of land in Colombia’s Altillanura region that had been set aside by law for family farming. Significantly, none of the banks included discussion of this additional exposure to allegations of land grabs in their 2014 and 2015 sustainability reports. This raises another important question: how reliably are banks reporting land-related risks to their shareholders and the wider public?
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We believe that poverty is unjustifiable and preventable, that the present state of inequality and injustice must be challenged, and that with the right help, poor people can change their lives for the better.
Oxfam’s vision is a just world without poverty. We envisage a world in which people can influence decisions that affect their lives, enjoy their rights, and assume their responsibilities—a world in which everyone is valued and treated equally.
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