"Green groups decry plan to list world’s biggest meatpacking company on NYSE", 24 April 2025

...Environmental groups are outraged that the world’s biggest meatpacking company, JBS, which has long been linked to Amazon’s deforestation, has received approval from US authorities to list on the New York Stock Exchange.

The decision, announced on Tuesday by the Securities Exchange Commission, follows reports that JBS subsidiary Pilgrim’s was the biggest donor to the inauguration committee of Donald Trump. Since taking power, Trump has reduced the independence of the SEC and other agencies, demanding their work be “controlled” by the president...

JBS has been linked to deforestation on multiple occasions, and the New York attorney general, Letitia James, filed a lawsuit last year accusing the company of misleading consumers with its climate goals in an effort to increase sales. That lawsuit was dismissed in February...

JBS – which is dominated by two brothers from the founding family, Joesley and Wesley Batista – had promised to clean up its supply chain in the Amazon rainforest, but a year-long investigation published last week by the Guardian, Unearthed and Reporter Brasil found widespread scepticism by frontline workers that the company’s new cattle tracing system will be ready by the deadline commitment of the end of this year. JBS has told the Guardian that it contested the conclusions of that investigation which it said were drawn from “a limited sample of 30 farmers”, saying it was irresponsible to disregard that JBS has “over 40,000 registered suppliers”.

The company has also had to pay fines or make plea bargains in several high-profile corruption cases in Brazil and the United States...

Asked about the criticism from the green groups, JBS said in a statement: “JBS believes the dual listing presents a compelling opportunity for stakeholders interested in the performance and sustainable growth of the company. The proposal creates value for our team members, the communities where we operate, and investors. We’ve maintained ongoing disclosures with domestic and foreign investors and partners, who have repeatedly demonstrated their confidence in the credibility and robustness of our policies.

“JBS will continue to partner with farmers, NGOs, universities, customers, and other stakeholders to identify ways to reduce agricultural emissions, combat global food insecurity, and enhance the sustainability of food systems. Agriculture has an essential role to play in the climate change solution, and companies like JBS can and should help lead collective action.”

The company repeated its comment on the investigation published by the Guardian last week about deforestation, saying that “while the sector-wide challenges are significant and larger than any one company can solve on its own, we believe JBS has an in-depth and robust series of integrated policies, systems, and investments that are making a material and positive impact on reducing deforestation risks”.

Asked about the listing on the New York stock exchange, the SEC declined to comment, a spokesperson said...