Jan 17, 2012
Friends of the Earth International is delighted to hear that Germany-based BASF is halting the development and commercialisation of genetically modified (GM) crops in Europe.
Speaking on 16 January, the day of the announcement, Adrian Bebb, from Friends of the Earth Europe said:
"This is another nail in the coffin for genetically modified foods in Europe. No one wants to eat them and few farmers want to grow them. This is a good day for consumers and farmers and opens the door for the European Union to shift Europe to greener and more publicly acceptable farming."
In its announcement BASF states that it has stopped the commercialisation of the Amflora potato, the GM crop licensed by John Dalli, Health and Consumer Commissioner in 2010. However, in the first year of cultivation the potatoes were contaminated with an unlicensed GM variety by BASF and withdrawn from the market.
Adrian Bebb continued:
"This is an embarrassment for Commissioner John Dalli. On coming into office he nailed his name to the GM mast, and approved BASF’s GM potato for commercial growing. Two years later, BASF has pulled the plug and the decline of GMOs continues."
further informationFind out more about Friends of the Earth Europe's GM campaign
Jan 12, 2012
European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to a report by Friends of the Earth Europe.
The report analyses the activities of 29 European banks, pension funds and insurance companies, including Deutsche Bank, Barclays, RBS, Allianz, BNP Paribas, AXA, HSBC, Generali, Allianz, Unicredit and Credit Agricole. It reveals the significant involvement of these financial institutions in food speculation, and the direct or indirect financing of land grabbing. Environmental and development organisations are calling for strict regulation to rein in these destructive activities.
Read the report
Daniel Pentzlin, sustainable finance campaigner for Friends of the Earth Europe said: “Food speculation and the financing of land grabbing leads to a catastrophic instability in global food prices – forcing millions of people into poverty and hunger. European banks, insurers and funds that speculate with food and land are gambling with peoples’ lives whilst reaping huge profits. This industry needs strict regulation to protect the poorest in society.”
Friends of the Earth Europe is calling on financial institutions to investigate, publish and reduce their involvement in food speculation and investments in land. Banks, pension funds and insurers should phase-out and refrain from speculating in financial products based on staple foods, which threatens the human right to food. European regulators should introduce caps on the size of bets speculators can make to curb excessive speculation.