Search Results for: Brazilian

Brazil, which is among the countries with the highest alerts (1.36 million in 2023) for financial crimes involving shell companies, as per the Moody’s Shell Company Indicator quoted by CNN (1), “has made important strides to improve” its  Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) system and “is achieving some positive results”, but still “needs to strengthen cooperation and coordination between certain authorities and improve prosecution”, warned the Financial Action Task Force (FATF) in 2023 (2).…

EUROPEAN oil and fats industry representatives are concerned and green groups angry that the European Commission is proposing to delay (1) implementation of the May 2023 European Union (EU) deforestation regulation (EUDR) (2) by a year. However, industry groups in Malaysia and Indonesia are hailing the delay as a sensible move, helping them prepare for the new regime.…

Brazil, the world’s fifth largest country by size, with 60% of the planet’s rainforest, is investing in research to become an important bioplastics player, using its abundant natural resources. However, legislative obstacles are hindering its progress.

And there is plenty of room for improvement.…

Brazil, the world’s fifth largest country by land area, is preparing to use its abundant natural resources and major renewable energy sector to become the world’s largest producer of green hydrogen (H2V). However, with several challenges to overcome, its likely success is tough to predict, say local experts.…

With the global commodities market valued at USD121.2 trillion in 2024 and expected to generate USD136.8 trillion in 2029 (1), the scope for fraudsters to make money from this sector is vast. German statistical service Statista notes that commodities sales have latent augmentation, given that it all includes emissions trading systems expanding worldwide, along with energy products, food and drink, precious and industrials metals and more.…

The UK Serious Fraud Office (SFO) has charged five former top executives of Swiss commodities giant Glencore, including ex head of the oil division, Alex Beard, with bribery in West Africa from 2007 to 2014.
In an August 1 statement (1), the SFO said it had charged Beard, who was one of Glencore’s top executives from 2007 until his retirement in 2019, his second in command, Andrew Gibson, plus Paul Hopkirk, Ramon Labiaga and Martin Wakefield “with conspiring to make corrupt payments” to benefit Glencore in the awarding of various oil contracts in Cameroon, Nigeria and the Ivory Coast.…

Anti-graft campaigners, including Britain’s Spotlight on Corruption, are calling (1) on Nigeria’s federal government to publish its USD50 million ‘penalty and compensation’ anti-corruption settlement with mining major Glencore International. Nigerian financial news publisher Nairametrics reported (2) that Attorney General, Prince Lateef Fagbemi announced at a Ministerial Sectoral Updates briefing for reporters in Nigeria’s capital Abuja on May 24 that the government had on April 25 concluded negotiations with the Switzerland-based mining company.…

Bio-based oils and fats producers have an increasing business opportunity to supply feedstock to a booming bioplastics industry. While governments are proactively encouraging biodegradable bioplastics, following the United Nations’ Sustainable Development Goals’ (SDGs) policy of reducing standard plastics pollution (1), this green industry is still nascent.…

The number of companies producing spent bleaching earth oil (SBEO) as a biofuel feedstock has been increasing, but despite the opportunities that new regulations and technologies offer, logistics, the lack of feedstock and costs remain major challenges.

That utilising bleaching earths and clays is a good idea is clear.…

International commodity trading conglomerate Trafigura has been fined almost USD127 million in a US court after admitting to bribing officials at Brazilian state oil company Petrobras between 2003 and 2014 to gain and retain business, violating the USA Foreign Corrupt Practices Act (FCPA).…