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

abcnews.go.com:

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

BRASILIA, Brazil — In recent weeks, lawmakers in the United States and the United Kingdom have sent letters to the Securities and Exchange Commission cautioning against the listing of JBS, the world's largest meatpacking company, on the New York Stock Exchange.

Trading on the world's largest exchange would give JBS access to more capital and enhance its credibility. But the lawmakers, along with environmental groups, argue that expanded capital would allow the company, responsible for much deforestation in the Amazon rainforest, to do even more harm.

The dispute surrounding JBS’ bid highlights the connection between finance and various drivers of climate change, including deforestation. It also raises questions about gauging claims that a company is committed to improving its environmental record.

Many companies listed on the New York and other stock exchanges have had, or still have, questionable environmental records. But often they have been listed for decades, having gone public when there was much less scrutiny of ecological impacts from business operations.

“Dozens of journalistic and NGO reports have shown that JBS is linked to more destruction of forests and other ecosystems than any other company in Brazil,” said the letter from 15 U.S. senators, released last week. «The company has made repeated claims that it will eliminate deforestation but has not taken meaningful steps to do so.”

The letter, signed by Democrats and Republicans, comes days after a similar one from 11 British lawmakers that said