Tax havens shielding companies responsible for deforestation and …

Money channelled through secretive tax havens has been used to fuel deforestation in the Amazon and illegal fishing around the world, racking up a heavy environmental toll but leaving few ways for businesses to be held to account.

Billions of pounds worth of finance has travelled through countries internationally recognised as tax havens, and has been traced by researchers to activities that contribute to environmental destruction, such as growing soy and beef in deforested areas of the Amazon, and expanding a network of largely unregulated fishing vessels operating under “flags of convenience”.

The amounts traced are likely to be just a fraction of the total amount channelled through tax havens that ends up funding environmentally destructive behaviour, according to Beatrice Crona, co-author of a report published today in the journal Nature Ecology and Evolution.

Victor Galaz, of the Stockholm Resilence Centre at Stockholm University and lead author of the

... read more at: https://www.theguardian.com/environment/2018/aug/13/tax-havens-shielding-companies-deforestation-overfishing

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