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Judi Lynn

(160,218 posts)
Fri Jun 5, 2020, 03:53 AM Jun 2020

Revealed: UK banks and investors' $2bn backing of meat firms linked to Amazon deforestation


Investigation uncovers ties between financial institutions and three Brazilian firms connected to environmental destruction

Emma Howard, Andrew Wasley and Alexandra Heal

Thu 4 Jun 2020 04.00 EDT

British-based banks and finance houses have provided more than $2bn (£1.5bn) in financial backing in recent years to Brazilian beef companies which have been linked to Amazon deforestation, according to new research.

Thousands of hectares of Amazon are being felled every year to graze cattle and provide meat for world markets.

As well as providing financial backing for Minerva, Brazil’s second largest beef exporter, and Marfrig, its second largest meat processing company, UK-based financial institutions held tens of millions of dollars worth of shares in JBS, the world’s largest meat company.

All three meat companies have been linked to deforestation in their supply chains, though they say they are working to monitor their suppliers and mitigate risks.

More:
https://www.theguardian.com/environment/2020/jun/04/revealed-uk-banks-and-investors-2bn-backing-of-meat-firms-linked-to-amazon-deforestation
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Revealed: UK banks and investors' $2bn backing of meat firms linked to Amazon deforestation (Original Post) Judi Lynn Jun 2020 OP
😡 Duppers Jun 2020 #1

Duppers

(28,094 posts)
1. 😡
Fri Jun 5, 2020, 04:40 AM
Jun 2020

I've managed to cut our beef meals to one a month. Wish it were none but hubby...

We're killing everything that makes the planet habitable.



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