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The global farmland grab goes green

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Back in March of this year, Bill Gates was fielding questions on the online platform Reddit, promoting his new book on the climate crisis. Gates had just recently been revealed to be the largest farmland owner in the US, and one of the Reddit participants asked him why he was buying so much agricultural land. Gates replied: “My investment group chose to do this. It is not connected to climate.”
The first part of his answer is typical billionaire-speak. The world’s richest tend to place their money with family offices whose managers are tasked to make as much profit as possible. If they get called out for funding pipelines and factory farms, then the billionaires can feign ignorance and say their “investment group” chose to do it. It’s a similar dynamic with pension funds, where workers entrust their retirement savings to schemes that invest in all kinds of projects that undermine the well-being of working people around the planet.
Today there are 7,000 family offices that collectively manage US$5.9 trillion in assets, while pension funds in just 22 countries control a staggering US$52.5 trillion in assets. An increasing number of these family offices and pension funds are, like Gates’ group, choosing to buy up farmland. This can be done directly, as Gates’s group has done buying farms in the US, or indirectly via private equity funds, as those managing Gates’ trust fund have done to acquire a stake in farms in East Africa and oil palm plantations in the Congo.
Contrary to what Gates’ stated in the second part of his answer to the Reddit participant, this growing interest in farmland is deeply connected with climate. On a straightforward level, food and farming account for up to 37% of global greenhouse gas emissions according to the UN’s International Panel on Climate Change, and the model of industrial agriculture practiced and promoted by Bill Gates’ funded agencies is largely to blame.
But there’s another connection: these days the companies that are in the business of selling farmland to billionaires and pension funds are peddling it as a green, sustainable and socially responsible investment. They are even marketing farmland investing for its potential to generate carbon offsets. And the propaganda is working. Farmland is an increasingly appealing proposition for pension fund managers and billionaires who are under pressure to show some action on the climate crisis– and to hold off regulators that might force them to do more.
“There are some big macro-level trends around why existing institutional investors are becoming interested in land again, or looking to expand their portfolios if they already invest in land,” said Emily Norton, head of rural research at the property agency Savills, to the Financial Times. “There was a post-recessionary flight to safe assets [after the 2008 financial crisis], but the bigger trend is probably factors related to climate mitigation . . . increasingly, climate-positive trends are driving institutions and family offices to say: ‘Yes, that’s the reason we want to be in that asset class’.”
As an example, this year the pension fund of the Dutch postal company PostNL put €200 million into a new farmland fund, bluntly called the SDG Farmland Fund (SDG refers to the sustainable development goals of the United Nations).
“We found farmland interesting as it overlaps with sustainable themes such as climate change, food safety and food security,” said René van der Kieft, president of Pensioenfonds PostNL. “The investment fits with the SDG ‘Climate Action’, but also with ‘Life Below Water, ‘Zero Hunger, ‘Clean Water and ‘Sanitation and ‘Responsible Consumption and Production’. It provides us with an ideal opportunity to combine many SDGs.”
The Dutch pension fund, like most other institutional investors, is, for the time being, focussing on acquiring farmland in the “business secure” geographies of North America, Europe, Oceania and South America. But that could change. Indeed, private equity funds are already channeling important volumes of pension fund money into companies that operate farms in Africa and Asia, often with backing from development banks.
US pension fund manager TIAA, a co-founder of the UN’s Principles for Responsible Farmland Investing, has probably done more than any other company to market farmland investing as “green”. Today, TIAA manages a portfolio of nearly one million hectares of farmland around the world, worth about US$8 billion, on behalf of numerous pension funds in Asia, North America and Europe. But it has come under scrutiny, in particular for its land deals in Brazil’s Cerrado region, which have been shown to be linked to land grabs, deforestation and environmental destruction. Several US university unions and faculty associations with pensions managed by TIAA have recently passed or put forward resolutions condemning TIAA for its farmland acquisitions.
TIAA’s responded by going further and further with its green branding. In April 2020, TIAA’s agricultural subsidiary, Westchester, joined about a dozen other major farmland investors in launching Leading Harvest, “the first scalable, industry-wide standard paving the way for universal sustainable farmland management”. This standard is so far only available in the US but, as noted by TIAA, “it may be adapted for use outside of the United States in the future.”
The goal here is to define a global standard for sustainability that is suited to the large-scale, industrialised farming operations that TIAA and other farmland players are buying up and building but that is also good enough to appease most potential investors and downstream buyers of their harvests.
“There was a lot of effort in making sure that this standard meets the needs of the investor as well as of the farmer and the landowner,” says Steve Bruere, president of Peoples Company, another US-based farmland management company that co-founded Leading Harvest.
The big farmland players are also pushing farmland and corporate farmland ownership as a way for corporations to achieve net zero carbon emission targets, and are investing heavily to quantify the emissions that can be reduced or carbon that can be captured in the soil by tweaking their industrial agricultural practices.
“Many [companies] have been coming out with targets to be carbon neutral by a certain date, and one tool to help with that is to invest in timberland and farmland,” says Martin Davies, chief executive of TIAA’s Westchester Group. His company just hired a new head of sustainability to “support Westchester’s response to rising investor demand for carbon neutral portfolios, providing scalable, natural solutions to counter climate change through farmland investments.”
All of this is closely tied to developments in the digitalising of agriculture. The digital land records and massive quantities of data that big tech companies like Microsoft and Amazon are vacuuming up from farmers’ fields make it easier for the farmland companies to scour the planet for profitable farmland deals. They can also use satellite technologies and drones to monitor their farms from a distance, ensuring that those operating their farms are complying with their standards and directives.
Taken together, the advances in digital agriculture and the opportunities for carbon credits and greenwashing have the potential to make transnational, financialised farming operations more profitable, and certainly more appealing to investors.
The world’s farmland, as the farmland fund managers like to repeat, is finite. So, as corporations inhabit more of it, the less there is for small farmers, indigenous peoples and rural communities. Already these people are surviving on a dwindling fraction of the world’s farmlands, and still producing most of the world’s food. In 2014 we estimated that small farms occupied less than a quarter of the world’s farmlands.
The corporate farmland grabbers want people to think that this does not matter.
“I don’t think there’s anything especially notable about who buys farmland, if an institutional buyer buys it or a wealthy individual buys it or a neighboring farmer buys it … It’s still going to be used the same way in the following year and the returns to that asset are not influenced much at all by who happens to own it at a point in time,” says Bruce Sherrick, the director of TIAA Center for Farmland Research and board member of Leading Harvest.
But it absolutely does matter whether farmlands are in the hands of a corporation or a community of small farmers or pastoralists. Small farms have greater biodiversity and tree cover. They feed their communities with healthy foods. They generate and distribute wealth locally and fairly and build dynamic communities. They can and often do practice agroecology without fossil fuels or chemical inputs. And, as a new global study published in Nature concludes, they even produce significantly higher yields than big corporate farms. Small farms do not, however, offer much opportunity for pension fund managers and billionaire family offices to extract profits.
And that is the crux of the problem. Those who presently control the world’s financial flows are not capable of supporting the food producers and food systems that can deal with the climate crisis or the many other crises afflicting food and agriculture. Our challenge is to get both farmland and money out of their hands, as fast as we can.
Original source: GRAIN

SPECIAL REPORTS AND PROJECTS

‘Left to suffer’: Kenyan villagers take on Bamburi Cement over assaults, dog attacks

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  • The victims are aged between 24 and 60, and one of them has since passed on.
  • Many were severely injured and hospitalized following brutal attacks, unlawful detention, and physical assault by Bamburi’s security personnel.

Editor’s note: Read the petition here.


Their hopes for justice seemed to be slipping away after initially taking on a multinational corporation and failing to hold it accountable for the brutal injuries they suffered.

The death of one of their own cast a shadow of despair, making it seem unlikely that they would ever bring the corporation to justice for the crimes they alleged.

However, 11 victims of dog attacks, assaults, and other severe human rights violations are now challenging Bamburi Cement PLC’s role in these abuses in court.

They are represented by the Kenya Human Rights Commission (KHRC), which on January 29, 2025, filed a legal claim before a constitutional court in Kenya, seeking to hold the multinational accountable for the harm suffered by the victims—residents of land parcels in Kwale that Bamburi claims ownership of. KHRC worked with the Kwale Mining Alliance (KMA) to bring this case.

The victims, aged between 24 and 60, include Mohamed Salim Mwakongoa, Ali Said, Abdalla Suleiman, Hamadi Jumadari, Abdalla Mohammed, and Omari Mbwana Bahakanda. Others are Shee Said Mbimbi, Omar Mohamed, Omar Ali Kalendi (deceased), Abdalla Jumadari, and Bakari Nuri Kassim.

Bamburi had hired a private security firm and deployed General Service Unit (GSU) officers to guard three adjoining land parcels, covering approximately 1,400 acres in Denyenye, Kwale. The GSU established a camp on the land, which has historically been accessed by residents who have long used established routes to reach the forest and the Indian Ocean.

For decades, these routes provided them with access to resources such as firewood, crops, and fish, which they relied on for their livelihoods. However, five years ago, when they attempted to collect firewood, harvest crops, and access the ocean through the land, Bamburi accused them of trespassing. The company’s private guards and GSU officers responded with force, setting dogs on them and assaulting them.

Many were severely injured and hospitalized following brutal attacks, unlawful detention, and physical assault by Bamburi’s security personnel. These incidents occurred despite the lack of clearly defined boundaries and the fact that the traditional access routes had never been contested.

According to the petition, GSU officers and private guards inflicted serious injuries by kicking, punching, and beating the victims with batons. Those who were arrested were neither taken to a police station nor charged with any offense. Despite their injuries, they were denied emergency medical care.

These actions were intended to intimidate residents, prevent them from accessing the beach, and suppress any historical claims to the land, the victims tell the court. Local police in Kwale failed to investigate the abuses, visit the crime scenes, or arrest any of the perpetrators, they add.

Now, the victims are seeking compensation for these violations. They have also asked the court to declare that their rights were violated through torture inflicted by Bamburi’s guards and GSU officers. Additionally, they want the court to rule that releasing guard dogs to attack them during arrests constituted an extreme and unlawful use of force.

Source: khrc.or.ke

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River ‘dies’ after massive acidic waste spill at Chinese-owned copper mine

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A catastrophic acid spill from a Chinese-owned copper mine in Zambia has contaminated a major river, sparking fears of long-term environmental damage and potential harm to millions of people.

The spill, which occurred on February 18, has sent shockwaves through the southern African nation.

Investigators from the Engineering Institution of Zambia revealed that the incident stemmed from the collapse of a tailings dam at the mine.

This dam, designed to contain acidic waste, released an estimated 50 million litres of toxic material into a stream feeding the Kafue River, Zambia’s most important waterway.

The waste is a dangerous cocktail of concentrated acid, dissolved solids, and heavy metals.

The Kafue River, stretching over 930 miles (1,500 kilometres) through the heart of Zambia, supports a vast ecosystem and provides water for millions. The contamination has already been detected at least 60 miles downstream from the spill site, raising serious concerns about the long-term impact on both human populations and wildlife.

Environmental activist Chilekwa Mumba, working in Zambia’s Copperbelt Province, described the incident as “an environmental disaster really of catastrophic consequences”.

The spill underscores the risks associated with mining, particularly in a region where China holds significant influence over the copper industry.

Zambia ranks among the world’s top 10 copper producers, a metal crucial for manufacturing smartphones and other technologies.

Zambian President Hakainde Hichilema has appealed for expert assistance to address the crisis. The full extent of the environmental damage is still being assessed.

The tailing dam has breached, pouring millions of litres of acidic waste into the river

The tailing dam has breached, pouring millions of litres of acidic waste into the river (AP)

A river died overnight

An Associated Press reporter visited parts of the Kafue River, where dead fish could be seen washing up on the banks about 60 miles downstream from the mine run by Sino-Metals Leach Zambia, which is majority owned by the state-run China Nonferrous Metals Industry Group.

The Ministry of Water Development and Sanitation said the “devastating consequences” also included the destruction of crops along the river’s banks. Authorities are concerned that ground water will be contaminated as the mining waste seeps into the earth or is carried to other areas.

“Prior to February 18 this was a vibrant and alive river,” said Sean Cornelius, who lives near the Kafue and said fish died and birdlife near him disappeared almost immediately.

“Now everything is dead, it’s like a totally dead river. Unbelievable. Overnight, this river died.”

About 60 per cent of Zambia’s 20 million people live in the Kafue River basin and depend on it in some way as a source of fishing, irrigation for agriculture and water for industry. The river supplies drinking water to about five million people, including in the capital, Lusaka.

The acid leak at the mine caused a complete shutdown of the water supply to the nearby city of Kitwe, home to an estimated 700,000 people.

Dead fish in the river following the dam breach

Dead fish in the river following the dam breach (AP)

Attempts to roll back the damage

The Zambian government has deployed the air force to drop hundreds of tons of lime into the river in an attempt to counteract the acid and roll back the damage. Speed boats have also been used to ride up and down the river, applying lime.

Government spokesperson Cornelius Mweetwa said the situation was very serious and Sino-Metals Leach Zambia would bear the costs of the cleanup operation.

Zhang Peiwen, the chairman of Sino-Metals Leach Zambia, met with government ministers this week and apologized for the acid spill, according to a transcript of his speech at the meeting released by his company.

“This disaster has rung a big alarm for Sino-Metals Leach and the mining industry,” he said.

It “will go all out to restore the affected environment as quickly as possible”, he said.

The entrance to the Sino-Metals Leach Zambia mine

The entrance to the Sino-Metals Leach Zambia mine (AP)

Discontent with Chinese presence

The environmental impact of China’s large mining interests in mineral-rich parts of Africa, which include Zambia’s neighbors Congo and Zimbabwe, has often been criticised, even as the minerals are crucial to the countries’ economies.

Chinese-owned copper mines have been accused of ignoring safety, labour and other regulations in Zambia as they strive to control its supply of the critical mineral, leading to some discontent with their presence.

Zambia is also burdened with more than $4 billion in debt to China and had to restructure some of its loans from China and other nations after defaulting on repayments in 2020.

A smaller acid waste leak from another Chinese-owned mine in Zambia’s copper belt was discovered days after the Sino-Metals accident, and authorities have accused the smaller mine of attempting to hide it.

Local police said a mine worker died at that second mine after falling into acid and alleged that the mine continued to operate after being instructed to stop its operations by authorities. Two Chinese mine managers have been arrested, police said.

Both mines have now halted their operations after orders from Zambian authorities, while many Zambians are angry.

“It really just brings out the negligence that some investors actually have when it comes to environmental protection,” said Mweene Himwinga, an environmental engineer who attended the meeting involving Mr Zhang, government ministers, and others.

“They don’t seem to have any concern at all, any regard at all. And I think it’s really worrying because at the end of the day, we as Zambian people, (it’s) the only land we have.”

Source: www.independent.co.uk

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How Carbon Markets are Exploiting Marginalised Communities in the Global South Instead of Uplifting them

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The billion-dollar fiction of carbon offsets

Carbon markets are turning indigenous farming practices into corporate profit, leaving communities empty-handed.

For Janni Mithula, 42, a resident of the Thotavalasa village in Andhra Pradesh, cultivating the rich, red soil of the valley was her livelihood. On her small patch of land grow with coffee and mango trees, planted over decades with tireless care and ancestral knowledge. Yet, once a source of pride and sustainability, the meaning of these trees has been quietly redefined in ways she never agreed to.

Over a decade ago, more than 333 villages in the valley began receiving free saplings from the Naandi Foundation as part of a large-scale afforestation initiative funded by a French entity, Livelihoods Funds. Unbeknownst to Janni and her neighbours, these trees had transfigured into commodities in a global carbon market, their branches reaching far beyond the valley to corporate boardrooms, their roots tethered not to the soil of sustenance but to the ledger of profit and carbon offsets.

The project claims that it would offset nearly 1.6 million tonnes of carbon dioxide equivalent over two decades. On paper, it is a triumph for global climate efforts. In reality, the residents’ lives have seen little improvement. While the sale of carbon credits has reportedly fetched millions of dollars for developers, Janni’s rewards have been minimal: a few saplings, occasional training sessions, and the obligation to care for trees that she no longer fully owns. These invisible transactions pose a grave risk to marginalised communities, who practice sustainable agriculture out of necessity rather than trend.

Also Read | COP29: The $300 billion climate finance deal is an optical illusion

The very systems that could uplift them—carbon markets intended to fund sustainability—end up exploiting their resources without addressing their needs.

Earlier this year, the Centre for Science and Environment (CSE) and Down To Earth (DTE) released a joint investigative report on the functioning of the voluntary carbon market in India. The report critically analysed the impacts of the new-age climate solution, its efficacy in reducing carbon emissions, and how it affected the communities involved in the schemes.

The findings highlighted systemic opacity, with key details about the projects, prices, and beneficiaries concealed under confidentiality clauses. Developers also tended to overestimate their emission reductions while failing to provide local communities with meaningful compensation. The report stated that the main beneficiaries of these projects were the project developers, auditors and companies that make a profit out of the carbon trading system.

Carbon markets: The evolution

On December 11, 1997, the parties to the United Nations Framework Convention on Climate Change (UNFCC) convened and adopted the Kyoto Protocol with the exigence of the climate crisis bearing down on the world. The Kyoto Protocol, revered for its epochal impact on global climate policy, focused on controlling the emissions of prime anthropogenic greenhouse gases (GHGs). One of the key mechanisms introduced was the “Clean Development Mechanism”, which would allow developed countries to invest in emission reduction projects in developing countries. In exchange, the developed countries would receive certified emission reduction (CER) credits, or carbon credits as they are commonly known.

One carbon credit represents the reduction or removal of one tonne of CO2. Governments create and enforce rules for carbon markets by setting emission caps and monitoring compliance with the help of third-party organisations. For example, the European Union Emissions Trading System (EU-ETS) sets an overall cap on emissions and allocates allowances to industries. A financial penalty system was also put in place to prevent verifiers and consultants from falsifying emissions data. The impact of these renewable projects is usually verified through methods such as satellite imagery or on-site audits.

Companies such as Verra and Gold Standard have seized this opportunity, leading the designing and monitoring of carbon removal projects. Governments and corporations invest in these projects to meet their own net-zero pledges. The companies then issue carbon credits to the investing entity. Verra has stated that they have issued over 1 billion carbon credits, translating into the reduction of 1 billion tonnes of greenhouse gas emissions. However, countless case studies and reports have indicated that only a small fraction of these funds reach the local communities practising sustainability.

Article 6 under the Paris Agreement further concretised and regulated the crediting mechanism to enable countries interested in setting up carbon trading schemes. However, the parties failed to reach a consensus regarding the specifics of Article 6 at COP 27 and COP 28. So, climate finance experts and policymakers were very interested in the developments taking place at the COP 29 summit in Baku, Azerbaijan. Unlike its predecessors, the COP 29 summit has seen a diminished attendee list, with major Western political leaders including Joe Biden, Ursula von der Leyen, Olaf Scholz, and Emmanuel Macron failing to make it to the summit due to the increasingly turbulent climate within their own constituencies.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations. | Photo Credit: Illustration by Irfan Khan

Sceptics questioned whether this iteration of the summit would lead to any substantial decisions being passed. However, on day-two of the summit, parties reached a landmark consensus on the standards for Article 6.4 and a dynamic mechanism to update them. Mukhtar Babayev, the Minister of Ecology and Natural Resources of Azerbaijan and the COP 29 President, said: “By matching buyers and sellers efficiently, such markets could reduce the cost of implementing Nationally Determined Contributions by 250 billion dollars a year.” He added that cross-border cooperation and compromise would be vital in fighting climate change.

India has positioned itself as an advocate for the Like-Minded Developing Countries (LMDCs) group, with Naresh Pal Gangwar, India’s lead negotiator at COP 29, saying, “We are at a crucial juncture in our fight against climate change. What we decide here will enable all of us, particularly those in the Global South, to not only take ambitious mitigation action but also adapt to climate change.”

The COP 29 decision comes in light of the Indian government’s adoption of the amended Energy Conservation Act of 2022, which enabled India to set up its own carbon market. In July 2024, the Bureau of Energy Efficiency (BEE), an agency under the Ministry of Power, released a detailed report containing the rules and regulations of the Carbon Credit Trading Scheme (CCTS), India’s ambitious plan for a compliance-based carbon market. The BEE has aimed to launch India’s carbon market in 2026.

CSE’s report highlighted the challenges and possible strategies that the Indian carbon market could adopt from other carbon markets around the world. Referring to this report, Parth Kumar, a programme manager at CSE, pointed out how low carbon prices and low market liquidity would be prominent challenges that the nascent Indian market would have to tackle.

The Global South should be concerned

Following the landmark Article 6.4 decision, climate activists called out the supervisory board for the lack of discussion in the decision-making process. “Kicking off COP29 with a backdoor deal on Article 6.4 sets a poor precedent for transparency and proper governance,” said Isa Mulder, a climate finance expert at Carbon Market Watch. The hastily passed decision reflects the pressure that host countries seem to face; a monumental decision must be passed for a COP summit to be touted as a success.

The science behind carbon markets is rooted in the ability of forests, soil, and oceans to act as carbon sinks by capturing atmospheric carbon dioxide. This process is known as carbon sequestration, and it is central to afforestation and soil health restoration projects. However, the long-term efficacy and scalability of these projects have been repeatedly questioned. The normative understanding of carbon markets as a tool to mitigate climate change has also come under scrutiny recently, with many activists calling the market-driven approach disingenuous to the goals of the climate movement.

From a post-colonial perspective, carbon markets have been viewed as perpetuating existing global hierarchies; wealthier countries and corporations fail to reduce their emissions and instead shift the burden of mitigation onto developing nations. Olúfẹ́mi O. Táíwò, Professor of Philosophy at Georgetown University, said, “Climate colonialism is the deepening or expansion of foreign domination through climate initiatives that exploit poorer nations’ resources or otherwise compromises their sovereignty.” Moreover, the effects of climate change disproportionately fall on the shoulders of marginalised communities in the Global South, even though industrialised nations historically produce the bulk of emissions.

There have also been doubts surrounding the claiming process of carbon credits and whether the buyer country or the country where the project is set can count the project towards its own Nationally Determined Contributions (NDCs). Provisions under Article 6 of the Paris Agreement state that countries cannot use any emission reductions sold to another company or country towards their own emissions targets. However, this has become a widespread issue plaguing carbon markets. The EU has recently been criticised for counting carbon credits sold to corporations under the Carbon Removal Certification Framework (CRCF) towards the EU’s own NDC targets. This has led to concerns over the overestimation of the impact of mission reduction projects.

Also Read | India needs climate justice, not just targets

Carbon offset projects, additionally, alienate local communities from their land as the idea of ownership and stewardship becomes muddled with corporate plans on optimally utilising the land for these projects. For example, in 2014, Green Resources, a Norwegian company, leased more than 10,000 hectares of land in Uganda, with additional land being leased in Mozambique and Tanzania. This land was used as a part of afforestation projects to practise sustainability and alleviate poverty in the area. However, interviews conducted with local Ugandan villagers revealed that the project forcibly evicted the local population without delivering its promises to improve access to health and education for the community. These concerns highlighted how the burden of adopting sustainable practices is placed on marginalised communities.

While carbon markets are rightfully criticised, they remain a key piece of the global climate adaptation puzzle. Addressing the issues surrounding transparency and equitable benefit-sharing with local communities could lead to carbon markets having a positive impact on climate change. The system must ensure that larger corporations and countries do not merely export their emissions, but instead implement measures to reduce their own emissions over time. It is also imperative to explore other innovative strategies such as circular economy approaches and nature-based solutions that are more localised, offering hope for a just and sustainable future.

Adithya Santhosh Kumar is currently pursuing a Master’s in Engineering and Policy Analysis at the Delft University of Technology in the Netherlands.

Source: frontline.thehindu.com

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