Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Join our Active Allies list
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2021-02-24 00:00:00
Protect the climate but finance Total?
2021-02-16 00:00:00
Oil and gas financiers are staring down the barrel at $1 trillion in losses: time to rein in support for new pipelines
2021-02-11 00:00:00
Beefing up risk: the exposure of JBS’ financiers to financial, regulatory and reputational risks
2021-01-25 00:00:00
Why should banks support EU mandatory human rights and environmental due diligence?
2020-09-24 12:53:20
Oscislowo open-pit coal mine cancelled
2020-09-08 13:07:41
Strengthened OECD guidance on responsible banking
2020-02-25 10:35:27
JPMorgan Chase Coal and Arctic Policy a step forward but fails to match its climate responsibility as the world’s #1 Fossil Bank
2020-02-18 17:27:23
Civil society groups welcome Royal Bank of Scotland preparing to exit fossil fuels
Connect
2021-03-24 00:00:00
Banking on Climate Chaos 2021
2021-03-22 00:00:00
BankTrack Annual Report 2020
2021-02-01 00:00:00
Banking on Thin Ice
2020-11-30 00:00:00
Soft Commitments, Hard Lessons: an analysis of the Soft Commodities Compact
2020-11-24 00:00:00
"Trust Us, We're Equator Banks": Part II
2020-11-18 00:00:00
Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline
See all publications
Browse
Home
Banks
Dodgy Deals
Map
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook page
Twitter channel
Home › News
New report: biofuel 'wonder-crop' Jatropha fails to deliver
Start

By: Friends of the Earth Europe
2011-01-20
Brussels/Abuja

Contact:

Adrian Bebb, European agrofuels campaign coordinator for Friends of the Earth Europe, Tel: +49 1609 490 1163,

Paul de Clerck, coordinator of the Economic Justice programme, Friends of the Earth Europe (EN, NL) Tel: +32 (0) 494 380 959,

Sam Fleet, communications officer, Friends of the Earth Europe, (EN) Tel: +32 (0) 2893 1012,


Share this page:

The much-touted biofuel crop jatropha is neither a profitable nor a sustainable investment, according to a new report released by Friends of the Earth Europe today.

'Jatropha: money doesn't grow on trees' warns investors away from jatropha - a shrub being increasingly planted for its oil-producing fruits and ability to survive in arid conditions - stating growing evidence that the crop is failing to deliver on its promises while simultaneously failing to prevent climate change or contribute to pro-poor development.

Paul de Clerck, Economic Justice programme coordinator for Friends of the Earth Europe said:"European investment companies advertise that jatropha guarantees high returns on marginal soils - but their promises are far from realistic. Many projects have already been abandoned because yields have stayed below expectations, even on good soils. Large-scale jatropha plantations are neither a profitable nor sustainable investment; companies should stop land-grabbing for jatropha."

Jatropha is being promoted by investment companies as a profit-making panacea, providing a source of biofuel that can be grown on marginal land across Africa, Asia and Latin America. But research from Friends of the Earth Europe reveals that investments in large-scale jatropha plantations are failing due to the crop's poor performance, with increasing evidence of low yields on poor quality soils, and even good soil. The report highlights jatropha companies such as D1 Oils and Flora EcoPower who have been unsuccessful, illustrating that the plant's economic viability is highly doubtful .

The investments are controversially fuelling land-grabs in Africa, displacing farmers and communities whilst competing with food production and water supplies.

Mariann Bassey, food and agriculture coordinator for Environmental Rights Action/Friends of the Earth Nigeria said: "In Africa, farmland is taken away from communities and people's livelihoods are destroyed for yet another false solution to climate change. Food prices are rising again, yet land is being snatched away to grow fuel for cars. We want agriculture that allows us to grow food for people."

The full report can be downloaded here

NOTES:

Full report: www.foeeurope.org/download/jatropha_FoEIreport_Jan2011.pdf
Summary:
www.foeeurope.org/download/jatropha_FoEIsummary_Jan2011.pdf

Publicly listed companies who invested in jatropha such as D1 Oils (UK) and Flora EcoPower (Germany) have had disastrous share price records. BP pulled out of their joint venture with D1 Oils because of disappointing results. Other examples are the Swedish private company BioMassive, which leased land in Tanzania for jatropha plantations, but reported losses until 2009 and have not been heard of since. Dutch company BioShape, which also acquired land in Tanzania, was officially declared bankrupt in 2010.

Browse
Home
Banks
Dodgy Deals
Map
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook page
Twitter channel
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted