Brazilian commodity trader Grupo Amaggi recently launched a green bond to expand its presence in the country’s soy market. The company’s USD 750 million green bond will allocate two-thirds of the proceeds to new schemes such as clean energy initiatives and the rest to refinancing debt for projects that include buying and processing certified soy. …
So far in 2021, there appears to be capital market movement from various players in the “big four” forest-risk commodity sectors. Major Palm Oil Company Moves Forward With IPO On January 4, 2021, PT Fangiono Agro Plantation (FAP Agri) issued the first initial public offering (IPO) of the year on the Indonesian Stock Exchange. The …
International corporations and investors have called on major soy traders to agree to a cut-off date for sourcing soy in the Cerrado biome. Signatories to the Cerrado Manifesto, which include 160 companies and investors that have exposure to the soy market, asked the traders in a letter late last year to stop sourcing from converted …
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 …
In a major step forward, eight French grocery store chains late last year signed an agreement to eliminate soy grown on deforested land from their supply chains through strengthening sourcing policies. Based on this agreement, the supermarkets will include no-deforestation clauses in supplier contracts to curb deforestation in the Brazilian Cerrado biome. European retailers have …
A technical report by Brazil’s land reform agency INCRA has deemed TIAA’s land titles in Brazil to be legally null and void. This conclusion is discussed in a new report by Rede Social, the Lawyer’s Association for Rural Workers (AATR), and GRAIN. TIAA (The Teachers Insurance and Annuity Association of America) is the largest international …
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 …
Starting in January, Bremnes Seashore, a major Norwegian salmon producer, will stop purchasing soy from Brazil, posing a market access risk for soy traders. The company, which purchases soy through fish feed, cited that rising deforestation rates and threats to its sustainability targets as reasons to cut off Brazilian suppliers. “Soy-based feed is a major …
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 …
An investigation by the Bureau of Investigative Journalism (TBIJ) has shown that soy used to feed livestock in the United Kingdom originates from industrial farms in the Cerrado biome that have recently seen deforestation and wildfires. The study highlights Fazenda Parceiro, the SLC Agricola farm in the state of Bahia that saw large wildfires earlier …
