GATES FOUNDATION INVESTS IN MONSANTO
27 08 2010Seattle, WA – Farmers and civil society organizations around the world are outraged
by the recent discovery of further connections between the Bill and Melinda Gates
Foundation and agribusiness titan Monsanto. Last week, a financial website published
the Gates Foundation’s investment portfolio, including 500,000 shares of Monsanto
stock with an estimated worth of $23.1 million purchased in the second quarter of
2010 (see thefiling
< http://www.sec.gov/Archives/edgar/data/1166559/000104746910007567/a2199827z13f-hr.txt>
with the Securities and Exchange Commission). This marks a substantial increase
from its previous holdings, valued at just over $360,000 (see the Foundation’s 2008
990 Form < http://www.gatesfoundation.org/about/Pages/financials.aspx> ).
“The Foundation’s direct investment in Monsanto is problematic on two primary
levels,” said Dr. Phil Bereano, University of Washington Professor Emeritus and
recognized expert on genetic engineering. “First, Monsanto has a history of blatant
disregard for the interests and well-being of small farmers around the world, as
well as an appalling environmental track record. The strong connections to Monsanto
cast serious doubt on the Foundation’s heavy funding of agricultural development in
Africa and purported goal of alleviating poverty and hunger among small-scale
farmers. Second, this investment represents an enormous conflict of interests.”
Monsanto has already negatively impacted agriculture in African countries. For
example, in South Africa in 2009, Monsanto’s genetically modified maize failed to
produce kernels and hundreds of farmers were devastated. According to Mariam Mayet,
environmental attorney and director of theAfrica Centre
< http://www.biosafetyafrica.net/index.html/> for Biosafety in Johannesburg, some
farmers suffered up to an 80% crop failure. While Monsanto compensated the
large-scale farmers to whom it directly sold the faulty product, it gave nothing to
the small-scale farmers to whom it had handed out free sachets of seeds. “When the
economic power of Gates is coupled with the irresponsibility of Monsanto, the
outlook for African smallholders is not very promising,” said Mayet. Monsanto’s
aggressive patenting practices have also monopolized control over seed in ways that
deny farmers control over their own harvest, going so far as to sue—and
bankrupt—farmers for “patent infringement.”
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