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After delays, denial, and double standards, Monsanto maintains unjust monopoly on major food crop. Time to talk to the cooks about a new recipe?

At its annual meeting on Thursday, April 24th 2003, Monsanto's top brass will greet shareholders with a dismal financial report, (a 15% drop in annual sales - $4.7 billion in 2002, down from $5.5 billion in 2001) and a shareholder resolution that urges the company to re-think the safety of genetically engineered seeds - now the company's flagship product. But there's potentially more troubling news - a little known position paper that could rattle shareholders, irk investors and erode public confidence still further in the biotech behemoth: Despite its 1999 pledge not to commercialize Terminator technology, Monsanto has recently adopted a positive stance on genetic seed sterilization, a technology that has been condemned by civil society and some governments as an immoral application of genetic engineering.

The ETC Group today (14.04.2003) releases a new Occasional Paper, "No Small Matter II: The Case for a Global Moratorium - Size Matters!" The report calls on governments to adopt a moratorium on synthetic nanomaterials that are being manufactured in the laboratory and in some cases commercialized, in the absence of testing for health, safety and environmental impacts.

"Even though industry is scaling up the manufacture of nanoparticles and carbon nanotubes there appear to be no government regulations in Europe or North America to ensure the safety of workers or consumers," says Kathy Jo Wetter, ETC Group researcher. "A few national governments are beginning to consider some aspects of nanotech regulation but no government is giving full consideration to the socioeconomic, environmental, and health implications of this powerful new industry," notes Wetter. The ETC Group reports that nanoparticles are already available to consumers in sunscreens (including some intended for children, from infancy onwards) and cosmetics, among other products. However, regulators do not test nano-sized materials for health, safety and environmental impacts if their macro- or micro-sized counterparts have already been approved.