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 …
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 …
Widespread fires in Brazil have been the center of media attention for yet again this year. Unlike the Amazon and Pantanal biomes, the Cerrado has seen 9 percent fewer fires from July-September 2020 compared to last year. However, in an analysis conducted by Chain Reaction Research, soy traders operating in the Cerrado biome have thus …
Two large wildfires are currently raging at Fazenda Parceiro, an SLC Agricola-controlled farm in the municipality of Formosa do Rio Preto in the Brazilian state of Bahia. Fazenda Parceiro is a 42,020-hectare (ha) property with a planted area of 14,351 ha. The farm consists of several separate sections, and the fires were detected on satellite …
In the wake of a particularly destructive 2019 fire season, year-to-date fire alerts for 2020 have already surpassed those of last year by 14 percent in the Amazon and over 200 percent in the Pantanal through September 30. On July 15, Brazilian president, Jair Bolsonaro, issued a 120-day moratorium on forest fires in the Amazon …
