Jan 27, 2012

Public Eye award winners

by PhilLee — last modified Jan 27, 2012 03:38 PM

At a press conference within view of the World Economic Forum (WEF) a banking giant and construction giant have been crowned the world's worst companies.

vale public eye awardsThe jury prize was awarded to the British banking corporation Barclays, for its food speculation at the expense of the world’s poorest people. The People’s Award went to Vale. 88,766 people cast their votes online.


The organisers recognized two corporations that are exemplary cases of those WEF members and corporations whose social and ecological offenses reveal the downside of pure profitoriented globalization.


For its food speculation practices, the expert panel conferred the Public Eye Global Award on British banking giant Barclays. As the fastest-growing food speculator in the world, Barclays drives up food prices at the expense of the poorest. In just the second half of 2010, 44 million people worldwide were driven into extreme

poverty due to rising food prices.


“We hope this award will encourage European lawmakers to introduce tough regulations to curb food speculation and stop banks gambling with food prices while nearly a billion people go hungry. Women, children and elderly people in the Global South are often the hardest hit by food speculation,” said Amy Horton of World Development Movement, the NGO that nominated Barclays for the award.


A new record of people voted via the web for the Public Eye People’s Award. The most votes (25,041) went to Vale, followed closely by Tepco (24,245) and Samsung (19,014).


Vale is Brazil’s second-largest corporation, the world’s second-largest mining firm, and the largest global producer of iron ore. The corporation has a 60-year history tarnished by repeated human rights abuses, inhumane working conditions and the ruthless exploitation of nature. Vale is currently taking part in the construction of the Belo Monte Dam in the Amazon. The dam is likely to result in the forced relocation of 40,000 people, who have neither a voice in the matter nor will they likely receive compensation. 

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