Post by account_disabled on Feb 20, 2024 5:55:53 GMT -5
The Brazilian pulp company, Klabin SA, has registered mining interests in more than areas located in three of the country's states.
Over the past decade, Klabin, the Brazilian pulp company, has extracted minerals worth almost million reais (more than $ million), but with mining accounting for less than a tenth of its annual revenue, the company is not legally obliged to officially declare its mining operations.
Klabin has been searching for minerals in protected areas in the states of Paraná and São Paulo without notifying environmental agencies; Mineral prospecting could threaten Brazil's Atlantic rainforest and the livelihoods of quilombola communities.
Companies that have invested in Klabin, which include the world's largest asset manager BlackRock, high-profile banks and pension funds, have mostly declined to comment on Klabin's involvement in mining.
With the motto “Invest in Klabin and build a sustainable future” and a long list of awards for its commitment to preserving the environment , the Brazilian pulp and paper manufacturer Klabin SA attracted attention and resources in the financial market. By the end of , the company had at least $ million in stocks and bonds sold to of its largest global financiers and saw the nu C Level Executive List mber of people buying its shares on the Brazilian stock market rise from , to ,
What investors are probably unaware or unaware of is that Klabin is also a mining company with registered interests in areas in three Brazilian states. In the last years, it has extracted substances worth million reais (US$ million) on the market, without taking inflation into account. They also ignore or are unaware that part of the mineral deposits that the paper company exploits or has requested to exploit represent threats to environmental preservation areas, water sources and the territories of traditional Brazilian peoples.
According to the rules of Brazil's Financial Conduct Authority (CVM), transactions that represent less than % of a listed company's revenue do not need to be publicly declared. Therefore, neither Klabin's financial statements nor its sustainability reports nor the prospectuses of the bonds it places on the market—main information channels for investors—include mining among its activities.
“Mining is not related to the business and financial income of the company,” the company states, and therefore there would be “no indication to disclose” it in the financial reports. However, the company admits to using gravel, clay and flint extracted from mineral deposits in road paving and maintenance to improve truck traffic in its operating areas. Read the full statement here . Klabin also highlights that mining is listed in the company's statutes as one of its activities.
Still, financial market commentators criticize what they see as a lack of transparency. “When an investor buys a bond issued by Klabin, who does he buy it from? From the company's pulp division or the mining division? How can a person evaluate whether or not the company has sustainable policies if some of its activities are not clear?” asks Luiz Macahyba, a researcher at the Federal University of Rio de Janeiro specializing in financial regulation.
According to the Mining Observatory, the industry is one of the largest emitters of CO in the country. But Klabin's greenhouse gas inventory does not indicate the magnitude of emissions from its mining arm. “Klabin's emissions are calculated within the categories defined by the methodology, which separates the types of processes,” explains the company, adding that a third-party audit is carried out, “which guarantees the accuracy and credibility of the information.” .
“From the perspective of climate change and traditional peoples' rights and transparency, disclosing information about all of a company's operations is much better than not disclosing it,” says Moira Birss, director of climate finance at Amazon Watch, an international organization. that works to protect the environment . The Amazon jungle and its towns.
Unauthorized surveying
Mining applications currently submitted by Klabin are concentrated in the states of Paraná ( ) and Santa Catarina ( ), according to public data provided by Brazil's National Mining Agency (ANM).
In Paraná, at least two regions where Klabin has mining interests overlap an important preservation area, although the state environmental agency, the Water and Land Institute (Instituto Água e Terra, IAT), is not aware of the operations.
The Serra da Esperança Environmental Protection Area, in the municipality of Guarapuava, protects the environment of the Salto São Francisco da Esperança State Park, in the south-central region of the state. It was created to ensure the integrity of public water supplies and is home to rare or endangered forest species, such as the Brazilian pine ( Araucaria angustifolia ), symbol of the state of Paraná.
That is where Klabin looks for the minerals used in construction, as can be seen in two different applications. The company has been authorized to carry out surveys in one of them and has started the activities, however, without obtaining a license from the IAT: “We cannot have issued a license for that activity since no environmental impact study has been carried out by part of the state,” says the agency's press office. The full explanation can be read here .
Surveying is done before mining, but includes drilling and probing wells. Maurício Angelo, founder of the Mining Observatory — a website that monitors Brazil's mining industry — warns that, although surveys do not usually have major consequences, when they are carried out in a sensitive environmental area, the impact can be “important, precisely because of the area of influence ."
According to Alline Hlatki, director of the two conservation units, the EPA's management plan does not allow mining within its boundaries. “Any mining activity, no matter how small, will have an impact on the environment,” she says.
Atlantic forest at risk
In , the company carried out an unprecedented expansion of its mining interests in the state of São Paulo and obtained authorization to mine minerals in the Ribeira Valley, a region that extends north of Paraná and concentrates the largest area preserved Atlantic Forest of Brazil .
Over the past decade, Klabin, the Brazilian pulp company, has extracted minerals worth almost million reais (more than $ million), but with mining accounting for less than a tenth of its annual revenue, the company is not legally obliged to officially declare its mining operations.
Klabin has been searching for minerals in protected areas in the states of Paraná and São Paulo without notifying environmental agencies; Mineral prospecting could threaten Brazil's Atlantic rainforest and the livelihoods of quilombola communities.
Companies that have invested in Klabin, which include the world's largest asset manager BlackRock, high-profile banks and pension funds, have mostly declined to comment on Klabin's involvement in mining.
With the motto “Invest in Klabin and build a sustainable future” and a long list of awards for its commitment to preserving the environment , the Brazilian pulp and paper manufacturer Klabin SA attracted attention and resources in the financial market. By the end of , the company had at least $ million in stocks and bonds sold to of its largest global financiers and saw the nu C Level Executive List mber of people buying its shares on the Brazilian stock market rise from , to ,
What investors are probably unaware or unaware of is that Klabin is also a mining company with registered interests in areas in three Brazilian states. In the last years, it has extracted substances worth million reais (US$ million) on the market, without taking inflation into account. They also ignore or are unaware that part of the mineral deposits that the paper company exploits or has requested to exploit represent threats to environmental preservation areas, water sources and the territories of traditional Brazilian peoples.
According to the rules of Brazil's Financial Conduct Authority (CVM), transactions that represent less than % of a listed company's revenue do not need to be publicly declared. Therefore, neither Klabin's financial statements nor its sustainability reports nor the prospectuses of the bonds it places on the market—main information channels for investors—include mining among its activities.
“Mining is not related to the business and financial income of the company,” the company states, and therefore there would be “no indication to disclose” it in the financial reports. However, the company admits to using gravel, clay and flint extracted from mineral deposits in road paving and maintenance to improve truck traffic in its operating areas. Read the full statement here . Klabin also highlights that mining is listed in the company's statutes as one of its activities.
Still, financial market commentators criticize what they see as a lack of transparency. “When an investor buys a bond issued by Klabin, who does he buy it from? From the company's pulp division or the mining division? How can a person evaluate whether or not the company has sustainable policies if some of its activities are not clear?” asks Luiz Macahyba, a researcher at the Federal University of Rio de Janeiro specializing in financial regulation.
According to the Mining Observatory, the industry is one of the largest emitters of CO in the country. But Klabin's greenhouse gas inventory does not indicate the magnitude of emissions from its mining arm. “Klabin's emissions are calculated within the categories defined by the methodology, which separates the types of processes,” explains the company, adding that a third-party audit is carried out, “which guarantees the accuracy and credibility of the information.” .
“From the perspective of climate change and traditional peoples' rights and transparency, disclosing information about all of a company's operations is much better than not disclosing it,” says Moira Birss, director of climate finance at Amazon Watch, an international organization. that works to protect the environment . The Amazon jungle and its towns.
Unauthorized surveying
Mining applications currently submitted by Klabin are concentrated in the states of Paraná ( ) and Santa Catarina ( ), according to public data provided by Brazil's National Mining Agency (ANM).
In Paraná, at least two regions where Klabin has mining interests overlap an important preservation area, although the state environmental agency, the Water and Land Institute (Instituto Água e Terra, IAT), is not aware of the operations.
The Serra da Esperança Environmental Protection Area, in the municipality of Guarapuava, protects the environment of the Salto São Francisco da Esperança State Park, in the south-central region of the state. It was created to ensure the integrity of public water supplies and is home to rare or endangered forest species, such as the Brazilian pine ( Araucaria angustifolia ), symbol of the state of Paraná.
That is where Klabin looks for the minerals used in construction, as can be seen in two different applications. The company has been authorized to carry out surveys in one of them and has started the activities, however, without obtaining a license from the IAT: “We cannot have issued a license for that activity since no environmental impact study has been carried out by part of the state,” says the agency's press office. The full explanation can be read here .
Surveying is done before mining, but includes drilling and probing wells. Maurício Angelo, founder of the Mining Observatory — a website that monitors Brazil's mining industry — warns that, although surveys do not usually have major consequences, when they are carried out in a sensitive environmental area, the impact can be “important, precisely because of the area of influence ."
According to Alline Hlatki, director of the two conservation units, the EPA's management plan does not allow mining within its boundaries. “Any mining activity, no matter how small, will have an impact on the environment,” she says.
Atlantic forest at risk
In , the company carried out an unprecedented expansion of its mining interests in the state of São Paulo and obtained authorization to mine minerals in the Ribeira Valley, a region that extends north of Paraná and concentrates the largest area preserved Atlantic Forest of Brazil .