A coalition of environmental groups is pushing U.S. securities regulators to thwart JBS SA's New York share listing over concerns about the world's largest meatpacker's impact on deforestation, climate change and other issues.
SAO PAULO/CHICAGO, Aug 23 - A coalition of environmental groups is pushing U.S. securities regulators to thwart JBS SA's
However, groups including Rainforest Action Network, Mighty Earth and World Animal Protection this month sent letters to the Securities and Exchange Commission urging it to oppose the U.S. initial public offering or investigate claims in JBS's prospectus. Activists have long accused JBS of exploiting the environment and workers. Cattle ranching, along with clearing land to sell timber or grow crops, is driving deforestation in the Amazon rainforest. The beef industry says most deforestation isWorld Animal Protection told the SEC that JBS, which buys grain for livestock feed, did not adequately identify crop farming as a material risk factor for deforestation in its prospectus.
"In the prospectus there is no clear road map to really make sure JBS is not involved in deforestation," said Merel van der Mark, a Rainforest Action Network coordinator.
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