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European companies involved in controversial Belo Monte dam project

The Belo Monte dam project is widely criticized for its possibly devastating effects on the environment, for endangering the livelihood of 40.000 people displacment of these people. Up to this point, it was widely believed that the project was mainly pushed forward by the Brazilian government. A report now revealed that foreign, including european companies and financial institutions indirectly own 10 percent of the project. For example, Blackrock, Vanguard, Norges Bank and Allianz are profit from the project.Read the full report here.