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JBS faces environmental impact studies in US and UK over NYSE listing by Investing.com

JBS faces environmental impact studies in US and UK over NYSE listing by Investing.com

© Reuters.

WASHINGTON/LONDON – Brazilian meat producer JBS's environmental practices, particularly its role in Amazon deforestation, are casting a shadow over its plans to list on the New York Stock Exchange. The company is currently involved in a legal battle in the state of Rondônia, where it is accused of sourcing cattle from protected areas, backed by checks from federal prosecutors.

Despite JBS pledging to achieve net-zero emissions by 2040 and a commitment to fully trace its livestock supply by 2025, its environmental strategies are under fire. Critics argue that the company's efforts to secure $51 million, including the JPS fund for Amazon, fall short of its substantial net sales of about $209 billion from 2021 to 2023.

JBS's environmental initiatives face scrutiny not only from external observers but also from its own teams. Board member Carlos Nobre has openly expressed his dissatisfaction with the company's commitment to sustainability programs. In addition, environmental groups actively oppose a potential listing of JBS on the NYSE, warning of increased deforestation and broader implications for climate change. The developments put JBS at the center of a controversial debate as it seeks to expand its financial footprint in global markets.

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