Bid by meatpacker JBS to join New York Stock Exchange faces opposition over Amazon deforestation

By FABIANO MAISONNAVE
Associated Press

BRASILIA, Brazil (AP) — Lawmakers in the United States and the United Kingdom are urging the Securities and Exchange Commission not to allow JBS, the world’s largest meatpacking company, to be listed on the New York Stock Exchange. Getting listed would give the company access to more capital and enhance its credibility. However, the lawmakers, along with environmental groups, argue that expanded reach would ultimately allow the company, responsible for much deforestation in the Amazon rainforest, the ability to do even more harm. The dispute provides a window into the connection between finance and various drivers of climate change, such as deforestation. It also raises questions about how to measure whether a company has cleaned up its operations, as JBS has said it is doing.