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Financial capital and land grabbing: land control for forest monoculture by the Brookfield Asset Management

Grant number: 17/10407-1
Support type:Scholarships in Brazil - Scientific Initiation
Effective date (Start): September 01, 2017
Effective date (End): October 09, 2018
Field of knowledge:Humanities - Geography - Human Geography
Principal Investigator:Samuel Frederico
Grantee:Mariana Lopes da Silva
Home Institution: Instituto de Geociências e Ciências Exatas (IGCE). Universidade Estadual Paulista (UNESP). Campus de Rio Claro. Rio Claro , SP, Brazil
Associated scholarship(s):17/26459-0 - Financial capital and land grabbing land control for forest monoculture by Brookfield Asset Management, BE.EP.IC

Abstract

In the current period of Capital overaccumulation, financial capital constantly seeks innovative ways of accumulation, especially via new assets and territories incorporation in their investment portfolio. As a consequence, beyond the traditional applications in financial instruments, as stocks, debentures and securities exchange, it is becoming more common the capital overaccumulated investments in the so-called "real assets" - Infrastructure, urban property and agricultural lands. This last type of investment caused the actual phenomenon of Land Grabbing popularization. Although its diverse origin, destination and impact, Land Grabbing can be defined by the intensive use of capital for land control as a form of accumulation and response to the current financial, food, energetic and ecologic crises of the neoliberal globalization project. Therefore, this research wants to analyze the Bookfield Brasil actuation forms, corporation controlled by the Canadian financial company Brookdfield Asset Management Inc. According to their annual report of 2014, Brookfield Asset Management is one of the biggest financial companies of the world, with asset management focus, especially real estate assets, Infrastructure, energy and private equity. In that year, the corporation declared to have around US$ 200 billion in assets - 150 billion in the USA and Canada, 20 billion in South America, 15 billion in Asia and Australia and US$ 11 billion in Europe and Middle East. Therefore, this research objective is to analyze the Brookfield territorial use strategies, in the perspective of forests monoculture control. To this end, the research contains three principal aspects: 1) Analyze mechanisms of funds managed by Brookfield Asset Management capitalization. 2) Analyze the agribusiness fund managed by Brazil Timber Fund I e II investment thesis and forms of application. 3) Demonstrate land control expansion for forests cultivation. With these objectives, we want to demonstrate the correlation between the financialization of global economy and the large-scale Brazilian land acquisition and control. (AU)