JBS has canceled a USD 500 million IPO of processed food subsidiary JBS Foods International BV (JBSFI) planned for 2018. The IPO was initially scheduled to occur in H1 2017 before JBS experienced scandals regarding alleged insider trading, political bribery and meat safety corruption, deforestation and human rights concerns. Past reporting by Chain Reaction Research …
Download Report Here (PDF) Coffee production has been identified by the Peruvian Agricultural Census of 2012 as one of the major drivers of deforestation in the Peruvian Amazon, making up 25.4 percent of agricultural land in this region. Smallholders with less than 5 hectares (ha) of land produce 62 percent of the coffee grown in …
July 19, 2017 On June 29, the Financial Stability Board Task Force on Climate-Related Financial Disclosures (TCFD) published their final report including key recommendations for the Agriculture, Food and Forest Products sector. The Financial Stability Board (FSB) monitors and makes recommendations about the global financial system with FSB members including all G20 economies, the European Commission …
Download Report Here (PDF) Summary Financial regulators should address environmental and human rights risks in economic sectors driving deforestation. Financial regulators should address environmental and human rights risks in economic sectors driving deforestation. Binding regulation may be more effective than voluntary initiatives. Chinese, Brazilian, and Bangladeshi experiences may be useful for regulators. As published by …
Download Report Here (PDF) Summary JBS corruption and a USD 3.16 billion leniency agreement by J&F JBS conduct raises concerns over implementation of its Corporate Social Responsibility policies JBS revenue and EBITDA may continue to be weak as 50 percent of customers might be sensitive to ESG concerns International investors may be …
Mondelēz, Nestlé, Others Make Cocoa Deforestation Commitment 12 of the biggest companies in the cocoa supply chain including Cargill, Olam, Ferrero, The Hershey Company, Mars, Mondelēz International and Nestlé made a public pledge to end deforestation and forest degradation in the cocoa sector by 2018. The cocoa commitment will link producer nations with buyer nations …
Two Rotten Meat and Deforestation Scandals JBS SA, the world’s biggest meatpacking company, halted beef production at all but three of its 36 plants in Brazil last week as federal police released results from their two-year investigation of pork, poultry and beef meatpackers. They found that health inspectors and politicians took bribes to allow domestic …
The London Stock Exchange (LSE) reported that United Cacao Ltd. Managing Director and former Chairman Dennis Melka resigned from his post on Thursday, January 5, 2017. He resigned after United Cacao’s directors “unanimously resolved” to seek his “immediate termination”. Also on January 5, 2017, Strand Hanson Limited resigned as nominated adviser to United Cacao and as …
Indonesia Strengthens Peatlands Moratorium This week, the Republic of Indonesia revised it peatland regulations targeting a permanent peatland moratorium. According to World Resources Institute, this revision to Government Regulation No. 71/2014, in effect, could equal an emissions reduction 5.5 to 7.8 gigatons carbon dioxide of Indonesia’s emissions by 2030. Contextually, 2015 U.S. emissions from the …
Download Report Here (PDF) Summary Deforestation risks material to financial institutions. Key economic sectors exposed to deforestation-related financial risks. Agriculture, mining, oil and gas, and infrastructure sectors impacted. The economic links between deforestation and climate change are increasingly recognized in, for example, the 2015 Framework Convention on Climate Change’s Paris Agreement and elsewhere. This recognition …
