Carrefour is expanding its operations in Brazil. Last week, Carrefour Brasil said that it is purchasing 30 retail stores from Makro Atacadista SA for almost BRL 2 billion (USD 456 million). The stores are located throughout 17 Brazilian states (see graphic below). The expansion, which will increase its Brazilian market share by 1.5 percent, would require …
BlackRock, the world’s largest asset manager, recently released a report on its engagement with agricultural firms and the risks and opportunities the industry faces connected to environmental and social (E&S) issues. The communication comes just weeks after the investment firm joined the Climate Action 100+ group and emphasized that climate change is now central to …
Brazilian meatpacker JBS has signed a Memorandum of Understanding (MoU) with Chinese company WH Group to boost its sales of fresh meat in China, where consumption is rising at a rapid pace. This deal could bring in 3 billion Brazilian real (USD 717 million) per year for the two companies, and first shipments should begin …
The trend to integrate sustainability factors into financial regulatory frameworks is creating compliance, legal and reputational risks for local banks and investors financing forest-risk commodities in tropical countries. International banks and investors exposed to these supply chains may also be affected. Based on public sources and interviews, this report analyses the integration of sustainability in …
A group of lawmakers in the U.S. House of Representatives last month sent letters to major U.S.-based financial institutions calling on them to take specific actions to influence agricultural companies to reduce deforestation in Brazil. The letters, spearheaded by Rashida Tlaib (Democrat-Michigan), highlight the financial sector’s investments in firms that are exposed to deforestation risks …
By revenue, Walmart is the largest company in the world, employing about 2.2 million people and serving over 265 million customers a week. Private-label products sold by Walmart contain commodities that contribute to deforestation. For the forest-risk commodities – palm oil, pulp and paper, soy, and beef – Walmart has set zero net deforestation goals for 2020. Although …
Brazil’s development bank is seeking to sell 50 percent of its stake in meatpacker JBS SA, a move that could bring about major corporate ownership changes. The National Bank for Economic and Social Development, abbreviated BNDES in Portuguese, currently holds 21.3 percent of JBS’ shares. BNDES is the second largest investor in JBS, behind J&F …
The CEO of Carrefour Brasil, Noël Prioux, sent letters this summer to its main suppliers – Bunge, JBS, Marfrig, Minerva, and Cargill — asking them what concrete and immediate actions they have taken to protect the Amazon and other ecosystems threatened by deforestation. In the letters, obtained by Chain Reaction Research (CRR), Carrefour Brasil’s CEO …
Meatpacker JBS has stopped providing specific details that show the origins of its beef supply. JBS’ “Trust From Origin” website was intended to provide a greater level of transparency by giving the names of the farms where its sourced beef is produced. But the company’s information now provides only the general area of the source …
Dozens of the largest fast-moving consumer goods companies (FMCGs) have pledged to combat deforestation in recent years. Many did so as part of the Consumer Goods Forum (CGF), which in 2010 set a goal of achieving net-zero deforestation by 2020 by responsibly sourcing soy, palm oil, paper and pulp, and cattle. Many also endorsed the …
