A new report is claiming that large multinational, companies, such as Coca-Cola and Nestlé, are about to privatize one of the largest reserves of water, known as the Guarani Aquifer, in South America.
Located beneath the surface of Brazil, Argentina, Paraguay and Uruguay, the aquifer is the second largest-known aquifer system in the world.
There are already agreements in place with authorities of the current government, such as Michel Temer, to outline procedures required for private companies to exploit the water sources.
Under the Guarani Aquifer Project’s Environmental Protection and Sustainable Development Project, known as ANA’s Guarani Aquifer Project (SAG), the aquifer would be managed and preserved for present and future generations.
Since 2003, the Organization of American States (OAS) and the World Bank, through the Global Environment Facility (GEF), have implemented the Environmental Protection and Sustainable Development project to gather and develop research on the Guarani Aquifer , with the objective of implementing a common institutional, legal and technical model for MERCOSUR countries,”