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Suzano, Stora Enso: the making of corporate land. September 24, 2026 | Environmental Paper Network (EPN) Veracel, Suzano and Stora Enso, the trajectory from land grabbing to corporate property. A recent scientific study sheds new light on the pulp & paper industry expansion in the far south of Bahia, Brazil. The research examines not only questions surrounding the origin and validity of land titles associated with the company, but also a broader process through which disputed or irregular land claims can acquire the appearance of legally established private property. The study, "Corporate (Il)legal Enclosures: How Fraudulent Land Titles Override Community Rights in Forestry Land Conflicts in Bahia, Brazil," was published in September 2026 in the Journal of Business Ethics and is authored by Markus Kröger, Maria Ehrnström-Fuentes and Adriana Margutti. The findings are significant because they place the land conflicts surrounding Veracel within a wider discussion about corporate control of territory, land tenure, and the role of administrative and legal institutions in determining an extensive process of land grabbing. Land grabbing and the consolidation of corporate territory. The researchers examined documentation relating to land claims associated with Veracel, a paper company controlling a pulp mill and an extensive land-bank, more than 200,000 ha, developed on eucalyptus plantations in the far south of Bahia. Veracel was established as a joint venture between Brazilian pulp producer Suzano and the Swedish-Finnish forestry group Stora Enso. The company claims to adhere to principles of legality, sustainability and respect for community rights, however the study identified a number of irregularities in land records owned by Veracel. This is not a minor problem. In Brazil, land tenure is very fragile and often disputed. Already in 2001, Brazil's Ministry of Agrarian Development estimated that on a national scale, 100 millions ha of land (12% of all plantable land in Brazil) had been acquired using forged land certificates. In August 2020, a second-instance ruling was issued against Veracel in a case concerning property rights. In 2023, the Public Prosecutor's Office in Bahia investigated an alleged scheme involving company employees who were reportedly tasked with registering public land in the names of small-scale farmers, after which the land was subsequently transferred to the company. Against this complex background, irregularities surrounding property titles suggest that a deeper investigation is urgently needed. The records examined in the study include discrepancies between the locations described in documents and the land actually claimed, differences in the areas recorded in various documents, and the apparent lack of a consistent chain of title - the documentary sequence intended to demonstrate how ownership of a property was transferred over time. The significance of these findings goes beyond individual documents. According to the study, questionable or fraudulent titles can enter administrative and judicial processes and, through repeated use within those systems, acquire increasing institutional recognition. The authors describe this process as "corporate (il)legal enclosure." The concept draws attention to the interaction between formal legality and practices that may have originated in violation of land-tenure rules. A disputed claim does not necessarily cease to be contested simply because it is documented. Rather, documentation can itself become part of a longer process through which a claim is presented, processed and eventually treated as evidence of private ownership. This is particularly relevant in regions where land tenure has historically been shaped by concentrated ownership, disputed boundaries, incomplete records and the systematic appropriation of public or community-held lands. Large corporations have considerable legal, financial and administrative resources. These resources can enable companies to pursue claims through state institutions and legal proceedings over extended periods, potentially changing how contested claims are treated and understood. The issue is therefore not simply whether a particular document is valid or invalid. It is also about the institutional processes through which documents are interpreted, challenged or rather accepted and incorporated into subsequent records. From questionable title to apparently legitimate property. The land in the far south of Bahia is marked by a story of extensive conflicts with the indigenous Pataxó people, accusing Veracel of being co-responsible for the ongoing destruction of their ancestral territory and claiming their traditional land back. And yet, their claims are not being met by the authorities, despite being in principle recognized by the Constitution. Land titles are part of this. One of the study's key conclusions relates to how allegedly fraudulent or problematic titles enter into official systems. Once a document becomes part of administrative records, registration procedures or court proceedings, it can acquire a degree of institutional credibility. Over time, this can make the original circumstances surrounding the claim increasingly difficult to reconstruct or challenge. Land that was once subject to community claims, public ownership, or unresolved tenure disputes may eventually appear in official or corporate records simply as private property. The historical and legal disputes surrounding its acquisition can become less visible as subsequent transactions, registrations and institutional decisions build upon earlier documentation. This is particularly consequential in the context of large-scale forestry. Once land becomes part of a company's productive territory, its economic value and strategic importance can reinforce the corporate interest in maintaining the status quo. A local land conflict with global implications. The Veracel case also illustrates why land conflicts in Bahia cannot be viewed solely as local disputes. Through its parent companies, Suzano and Stora Enso, Veracel is embedded in the global pulp and paper industry and in international supply chains. Decisions concerning land use, the management of eucalyptus plantations, and industrial production in Bahia therefore have implications that extend far beyond the communities directly affected by these territorial disputes. Moreover, the power and influence of large corporations transcend beyond local dynamics, shaping land-use practices at a wider scale. The case raises a broader question about the responsibilities of multinational corporations operating in countries where land-tenure systems have historically been marked by abuse and inequality, incomplete documentation and disputes over the appropriation of public and community lands. This highlights the importance of transparency and independent scrutiny of corporate land holdings - not only at the point when land is acquired, but throughout the processes through which ownership claims are registered, consolidated and defended, especially as these holdings are supported with public money, both from Brazilian and multilateral financial institutions. How is it possible for companies whose land tenure is so opaque and contested to claim full adherence to the highest standards of corporate social responsibility (CSR), and be rewarded for this with customer preference, access to green credit, and lavish loans on favourable terms? The study's findings also raise the question of how does a contested land claim become recognized as property, and how do the institutions involved contribute to that transformation? For communities affected by land conflicts, this is a highly relevant question. A document that appears authoritative today may have a much more complicated history. And once that history has been incorporated into successive administrative, legal and commercial processes, challenging the resulting property claim can become considerably more difficult. The Veracel case, as examined by Kröger, Ehrnström-Fuentes and Margutti, therefore offers an important lens through which to examine the relationship between corporate power, land tenure and the production of legality. It also raises a fundamental question for policymakers, civil society and investors: when land becomes recognized as corporate property, what histories of ownership, dispossession and community rights remain visible - and which ones disappear from the record?

Suzano to acquire 10% stake in Imetame Port in Aracruz. The project includes the development of five specialized terminals - containers, general cargo, dry bulk, liquid bulk, and ship-to-ship operations. Generic photo. Photo: Simon Matthis Published by Suzano, the world's largest pulp producer, recently announced that it has signed an agreement to acquire a 10% stake in the Imetame Port in Aracruz, a port complex under development in southeastern Brazil. "The participation of Suzano in Imetame Logística will be constituted through the contribution of land owned by the company, strategically located for the development of the project, without affecting the operational or economic performance of the company's Aracruz Unit, located in the same region," Suzano said in a material fact notice, as quoted by DatamarNews. Imetame Group is a Brazilian business group headquartered in Aracruz. Cargo operations at Imetame's port are expected to start in early 2027. The container terminal, being developed through a joint venture with Hanseatic Global Terminals, Hapag-Lloyd's terminal division, will start operations in mid-2028. According to DatamarNews, the container terminal is planned with a 17-meter draft and future capacity estimated at 1.2 million TEUs per year. The project includes the development of five specialized terminals - containers, general cargo, dry bulk, liquid bulk, and ship-to-ship operations. With a multi-purpose concept, the port is designed to serve the most diverse productive sectors in support services for the import and export of diverse cargo, as well as loading and unloading of containers, general cargo, vehicles, project cargo, solid, liquid and gaseous bulk and offshore support. The venture has more than 01 million m[2] of total area and will have an initial infrastructure to handle 300 thousand TEUs per year, with capacity to expand handling to more than 01 million TEUs.

Bank of America upgrades Suzano (NYSE:SUZ) to buy. August 24, 2026 Key points. * Bank of America upgraded Suzano from "neutral" to "buy" and set a $13.00 price target, implying 48.23% upside from the stock's $8.77 price. * Analyst sentiment remains mixed: Suzano has an overall "Hold" consensus rating and an average price target of $13.20, with ratings ranging from Buy to Sell. * Suzano reported quarterly earnings of $0.28 per share on $2.24 billion in revenue, while institutional investors own 2.55% of the company. * Five stocks to consider instead of Suzano. Suzano (NYSE:SUZ - Get Free Report) was upgraded by analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $13.00 price target on the stock. Bank of America's price target indicates a potential upside of 48.23% from the stock's current price. Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Suzano from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. Zacks Research lowered Suzano from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.20. Suzano trading down 0.1%. Shares of NYSE:SUZ opened at $8.77 on Monday. The stock's 50-day simple moving average is $8.17 and its two-hundred day simple moving average is $9.05. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 0.14 and a beta of 0.56. Suzano has a 52-week low of $7.55 and a 52-week high of $11.53. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.75 and a current ratio of 3.38. Discover more MarketBeat Portfolio Tracking MarketBeat Research Tools Suzano (NYSE:SUZ - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.28 earnings per share for the quarter. The firm had revenue of $2.24 billion for the quarter. Suzano had a net margin of 17.20% and a return on equity of 14.92%. Analysts expect that Suzano will post 1.42 EPS for the current year. Institutional trading of Suzano. A number of hedge funds and other institutional investors have recently modified their holdings of SUZ. Caitong International Asset Management Co. Ltd lifted its stake in shares of Suzano by 11,502.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company's stock valued at $40,000 after buying an additional 4,256 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Suzano during the first quarter valued at about $51,000. Parallel Advisors LLC lifted its position in shares of Suzano by 71.7% in the third quarter. Parallel Advisors LLC now owns 9,341 shares of the company's stock valued at $88,000 after acquiring an additional 3,901 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Suzano by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company's stock worth $93,000 after acquiring an additional 1,400 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Suzano during the third quarter worth about $94,000. 2.55% of the stock is owned by hedge funds and other institutional investors. Suzano company profile. Suzano SA is a Brazil-based pulp and paper company recognized as one of the world's leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control. At the core of Suzano's business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Suzano, you'll want to hear this. 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