Thirst for profits: Nestlé is enriched thanks to water which does not belong

Environmental activists, as well as Canadian economists warn that the Swiss food company Nestlé extracts 265 million liters of drinking water of the Valla Fraser on Canada free and high profits from its sale.

Experts denounce the lack of regulation in the field of groundwater by the authorities of the Canadian provinces where it operates Nestlé Waters Canada, a division of Nestlé Group, the food company the world’s largest. Turns out that the company not costing almost nothing the extraction of water because there are no licenses for groundwater from wells and the final product – bottled water – is sold and brings considerable profits.

Another issue is the problem of non-renewable resources. Thus, the Nestlé policy scheme is as in the Valla Fraser of the District of Hope. The company settles in the provinces with water sources and negotiates with local governments that are captured by foreign investments, but finally the water sources are exhausted, while exploratory company ‘washing hands’.

In the absence of legal and economic regulation in terms of the aquifers in Canada, residents of the District of Hope complain about the fact that is forced to buy water from their own land. “We have very clear, very pure water is amazing. And then they take it and sell it in bottles”, according to one of the residents of Hope, Sharlene Harrison-Hinds, cited by the Canadian newspaper ‘The Province’.

 

Nestlé Waters

Corbis / AFP / RT

From Actualidad.rt.com

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Erick Gálvez

Administrador at ASD Forex
Webmaster of ASDForex.com and trader of forex market since 2008. I'm in charge of the publication and editing of news and analysis www.asdforex.com

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