Study citing Pacific Andes says tax havens bolster unsustainable businesses

Tax havens – and the financial secrecy they provide – may bolster industries tied to the unsustainable management of natural resources, a new study by the International Consortium of Investigative Journalists (ICIJ) has found.

“We need to start seeing the environmental costs of tax havens” and “how financial actors and financial flows are shaping the planet in very profound ways,” said Victor Galaz, a researcher at Stockholm University’s Resilience Centre and the leading author of the report that looked at the use of tax havens by agribusiness and fishing companies.

The study, which started after the unveiling of the Panama Papers investigation in April 2016 and was published Aug. 13 in the journal Nature Ecology Evolution, examined jurisdictions where agribusiness conglomerates operating in the Amazon and fishing vessels involved in illegal activities are registered.

In the past, investigations by ICIJ and its partners have shown how natural resource and agribusiness companies

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