New study shows connections between global environmental degradation and tax havens published in Nature Ecology and Evolution. On average 68% of all investigated foreign capital to sectors associated with deforestation of the Amazon rainforest was transferred through tax havens. 70% of the known fishing vessels involved in illegal, unreported and unregulated (IUU) fishing are, or have been, registered in tax havens. Loss of tax revenue caused by tax havens should be considered as indirect subsidies to economic activities with detrimental environmental consequences.