JBS Faces Opposition Over NYSE Listing Bid Due to Amazon Deforestation

Lawmakers and environmental groups warn that the meatpacking giant's increased capital could enable further harm to the Amazon rainforest.

JBS, the world's largest meatpacking company, is facing opposition from lawmakers in the United States and the United Kingdom over its bid to list on the New York Stock Exchange due to its role in Amazon deforestation.
JBS is linked to more destruction of forests and other ecosystems than any other company in Brazil, and its increased capital from listing could enable more harm.
JBS has pledged to make all cattle purchases traceable by 2025 and to reach net zero carbon emissions by 2040. It has also created the JBS Fund for the Amazon to finance conservation initiatives.
Despite these efforts, the company's contributions to environmental projects represent only 0.007% of its net sales from 2021 through the last quarter of 2023.
A previous attempt by JBS to join the NYSE was thwarted amid a corruption scandal in 2017, and the company paid the SEC $26.8 million for accounting irregularities at its U.S. subsidiary in 2020.