In a landmark decision, on May 26, 2021, a Dutch civil court ordered Shell to cut its CO2 emissions by net 45 percent in 2030 compared to 2019 levels. The decision states that the reduction obligation relates to the Shell’s entire energy portfolio and to the aggregate volume of all emissions (Scope 1 to 3), …
Japanese trading house Sumitomo Corporation is seeing increasing pressure from NGOs and investors over its climate policies. In particular, the company is under increased scrutiny over its plans for a new coal-fired power plant in Bangladesh and its imports of wood chips, wood pellets, and palm kernel shells, which contribute to forest loss in Southeast …
A new Greenpeace investigation finds that Brazil’s leading meat processor JBS and its top competitors Marfrig and Minerva purchased cattle from ranchers linked to the 2020 Pantanal fires as well as other environmental and social controversies in recent years. The meatpackers reportedly continue to source from some of these ranchers despite having been informed about …
The Cerrado biome, a vast, biodiverse tropical savannah in Brazil, is under threat from commodity-driven deforestation. Soy expansion and cattle ranching are direct drivers of forest loss in the Cerrado. This report presents new data on specific actors linked to Cerrado deforestation in 2020, including the quantified risk exposure of the largest soy traders, meatpackers, …
A new lawsuit has been filed against the Casino Group, a major French supermarket chain with Latin American subsidiaries, claiming that the company’s supply chain practices in Brazilian and Colombian cattle are in violation of France’s Due Diligence law. The incident reflects the increasing legal, financial, and reputational risks that Casino and its peers are …
In 2017, the Task Force for Climate-Related Financial Disclosure (TCFD) released its recommendations for climate-related disclosures in financial filings. The TCFD has since become the de facto global standard for the financial sector to report on climate change risks. This paper presents a framework for assessing deforestation-related risks in agricultural commodity supply chains that is …
The beef and soy sectors have been two of the major drivers of deforestation in the Brazilian Amazon and Cerrado biomes in recent years. Financial institutions with exposure to these sectors may be inadvertently contributing to climate change and biodiversity loss. As global stakeholders react to these threats, financial institutions may become increasingly more exposed …
JBS, Marfrig, and Minerva are the largest meat processors in Brazil, dominating beef processing and exports. Our latest report assesses the companies’ exposure to deforestation and analyses their market, reputation, and technology risks. Our analysis shows: – The companies show little progress in monitoring indirect supply chains; – They face material financial risks from European …
JBS, Marfrig, and Minerva are the largest meat processors in Brazil, dominating beef processing and exports. The cattle industry is the main driver of deforestation in Brazil. This report, which builds on CRR’s earlier JBS analysis, assesses the companies’ exposure to deforestation and analyses their market, reputation, and technology risks. CRR has located and monitored …
Companies and their financiers are exposed to a variety of financial risks when linked to deforestation, ranging from reputational damage to reduced market access. Of the companies that disclosed information on involvement with forest-risk commodities in CDP’s 2018 survey, two-thirds conducted risk assessments of forest-related issues and 92 percent of risk assessments identified substantive business …
