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Research view

PLACEHOLDER - This infographic sculpture and accompanying video investigate how Brazilian nature is turned into a commodity, commonly owned and exploited by foreign stakeholders. Using reports of global investment forms like Harvard Edowment Fund, a series of intricate diagrams were created, which explained complex connections between Western investment firms, and their ‘ownership’ & speculation on land, gas and carbon in the Amazon region. Seemingly abstract unrelated networks are brought to life in order to expose the hidden relations of the agents of deforestation. Each block of land, gas or carbon is labelled with an actor, and footnoted with text on the floor explaining the flow of commodification and shell companies used to hide direct responsibility.

Jair Bolsanaro

Jair Bolsonaro was the President of Brazil when the research was conducted. He announced that he plans to open up Brazil to more foreign trade by reducing tax on business.

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Jair Bolsanaro

Paulo Guedes

During the time or research, Jair Bolsanaro's economy minister was being investigated for a crime involving investments contributed by pension funds. He would later be appointed to head Petrobras.

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Paulo Guedes

Petros

Among the investigations, is Petros, which was created by Petrobras in 1970. 

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Petros

Petrobas

Petrobras is a Brazilian oil company, and the largest company in Brazil, and the Brazilian government holds the majority in voting rights for the company.

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Petrobas

Rosneft Brazil

Subsidiary of Rosneft operating in Brazil since 2014. In 2014 Rosneft and Petrobras signed a Memorandum of Understanding on cooperation to study development schemes for a joint monetization of gas in the Solimões Basin in the Amazon region.

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Rosneft Brazil

Rosneft

Rosneft Oil Company is a Russian integrated energy company headquartered in Moscow.

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Rosneft

Rosneft Press Release 14 July 2014

Solimoes Basin

TIAA-CREF

The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund is an American private pension provider in the academic, research, medical, cultural and governmental fields. Through a series of subsidiaries and shell companies, TIAA-CREF partakes in land-grabbing in the Brazilian Amazon.

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TIAA-CREF

TIAA-CREF Global Agriculture II LLC

TCGA II is a subsidiary of TIAA-CREF to invest in farmland around the globe. TCGA II was set-up after TCGA reached oversubscribed status with $2 billion in capital commitments at final close. TCGA II uses a complex corporate structure to evade Brazilian land ownership law.

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TIAA-CREF Global Agriculture II LLC

Nova Gaia Brasil Participaco Ltda

Terraviva Brasil Participaco Ltda.

Tellus Brasil Participaco S.A.

Tellus is 49% owned through TIAA-CREF and 51% through Cosan. This allows TIAA-CREF to bypass Brazilian landownership law.

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Tellus Brasil Participaco S.A.

Cosan

Cosan S.A. is a public-listed company, a Brazilian conglomerate producer of bioethanol, sugar and energy.

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Cosan

Mansilla Participacoes LTDA

Radar S.A.

Before the 2010 Law that limited Foreign ownership of land, This subsidiary was set up as a joint venture between Cosan and TIAA-CREF to purchase land to be turned into farmland. TIAA-CREF had an 81% share of the company. In 2016, Radar's structure was reshuffled. Under the new arrangement, Cosan held a majority of the voting shares.

While TIAA held more shares than Cosan, because they were mostly “non-voting” shares the fund appeared to have less control over Radar. But TIAA could veto major investments, provided 60 percent of the capital, and was entitled to 97 percent of profits.

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Radar S.A.