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Divesting from meat

by Futures Centre, Oct 1
1 minute read

In July 2020, Nordea Asset Management dropped JBS, Brazil’s largest meat processor, from its full portfolio (not just ESG-focused funds) – withdrawing around € 40 million – after the company failed to address the investors’ concerns regarding its handling of deforestation, among other concerns. Greenpeace claims JBS is among Brazilian meat producers sourcing beef from a protected reserve in the Mato Grosso region.  

man slicing raw meat

So what? 

The move by Nordea Asset Management points towards the potential of investors to drive change, where governments and legislation are falling short, by demanding full traceability in cattle rearing and other forest commodities. Nordea’s action coincided with a joint statement, also issued in July, by over 50 corporations in Brazil calling for swift measures to combat illegal activities on protected land and protect indigenous peoples, fearing that concerns for crimes against the Amazon could hamper the market for competitive Brazilian products.

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