Links between tax havens, deforestation and illegal fishing exposed

IMAGE: Number of illegal, unreported and unregulated fishing vessels registered in tax havens.
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Credit: Stockholm Resilience Centre

Summary:

  • New study shows connections between global environmental degradation and tax havens published in Nature Ecology and Evolution.
  • On average 68% of all investigated foreign capital to sectors associated with deforestation of the Amazon rainforest was transferred through tax havens.
  • 70% of the known fishing vessels involved in illegal, unreported and unregulated (IUU) fishing are, or have been, registered in tax havens.
  • Loss of tax revenue caused by tax havens should be considered as indirect subsidies to economic activities with detrimental environmental consequences.
  • Putting tax havens on the global sustainability agenda is key to protect the environment and achieve the UN Sustainable Development Goals.

The release of the “Paradise Papers” and “Panama Papers” exposed

... read more at: https://www.eurekalert.org/pub_releases/2018-08/src-lbt080818.php

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