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Article

26 May 2016

Author:
The Guardian

“Will London Stock Exchange bar firm over Amazon deforestation?”

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…Two indigenous Shipibo men from Peru’s Amazon - Sedequías Ancón Chávez and Robert Guimaraes Vasquez - paid a rare visit to the London Stock Exchange (LSE) earlier this month. The reason? To present a letter addressed to Marcus Stuttard, Claire Dorrian and Umerah Akram from the LSE’s Alternative Investment Market (AIM) urging the AIM to investigate, suspend and bar a company called United Cacao Limited SEZC - as well as amend its rules and “exact more active oversight” in general…The letter, accompanied by a 28-page report by the NGO Environmental Investigation Agency (EIA) supported by almost 400 pages of annexes, states that the AIM now has the opportunity to set an important example:…The potential precedents set by AIM’s action on this case will have global relevance for stock exchanges, market actors, the global climate, and our planet’s population – including indigenous peoples and forest communities most directly affected by land and natural resource governance…Funds raised on international stock exchanges should not be available for companies operating in violation of the law, threatening the rights and resources of indigenous peoples, and causing serious environmental damage…The company denies it is violating AIM rules. “United Cacao complies fully with the AIM Rules and the regulators,” it told the Guardian. “Dennis Melka addressed this and other allegations in a recent interview.”…