Banks and land grabs
15 February 16
Land grabs — often involving forced evictions — are still taking place in some of the world’s poorest countries. This is having devastating impacts on the lives of vulnerable rural
communities. Over the last 15 years, 40 million hectares have changed hands through large-scale land acquisitions — much of which is linked to agriculture and timber land grabs.
In April 2014, Oxfam released a report that revealed how Australia’s big four banks — the Australia and New Zealand Banking Group (ANZ), the Commonwealth Bank (CBA), the
National Australia Bank (NAB) and Westpac — were backing companies connected to land grabs, forcing people off their land without adequate consent or compensation.
Scandalously, almost two years after the release of this report, Banking on Shaky Ground, little has changed.