Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

European supermarkets stop selling Brazil beef over deforestation links

Published : , on

By Jake Spring and Anthony Deutsch

SAO PAULO/AMSTERDAM (Reuters) – Six European supermarket chains, including two owned by Dutch firm Ahold Delhaize and a Carrefour subsidiary, said on Wednesday they would stop selling some or all beef products from Brazil due to links with destruction of the Amazon rainforest.

The pledges ranged from supermarket chain Lidl Netherlands, which committed to stop selling all beef originating in South America starting in 2022, to more focused decisions to halt sales of certain corned beef or beef jerky products.

Many of the products affected are linked to the world’s largest meatpacker, JBS SA.

The boycotts are in response to an investigation by Brazilian publication Reporter Brasil that alleged JBS indirectly sourced cows from illegally deforested areas, in a scheme known as “cattle laundering.”

This occurs when cattle raised on an illegally deforested plot of land are sold to a legitimate farm before sale to a slaughterhouse, to hide its origin.

JBS told Reuters it has zero tolerance for illegal deforestation and has blocked more than 14,000 suppliers for failing to comply with its policies. The company said monitoring indirect suppliers – the ones before the final seller to the slaughterhouse – is a challenge for the entire sector, but that JBS will institute a system capable of doing so by 2025.

The Brazilian meatpacker said that Reporter Brasil’s research mentioned only five out of 77,000 direct JBS suppliers and that those suppliers met the company’s policies at the time of purchase.

Deforestation in Brazil’s Amazon, the world’s largest tropical rainforest, has soared since right-wing President Jair Bolsonaro took office in 2019 and rolled back environmental protections. He has said he aims for more farming and mining to lift the region out of poverty.

Deforestation hit a 15-year high in 2021 with an area larger than the U.S. state of Connecticut being cleared.

Most of the denuded land is used for cattle ranching.

Among other commitments, Ahold Delhaize’s subsidiary Albert Heijn, the largest supermarket chain in the Netherlands, will stop sourcing beef from Brazil entirely.

An Albert Heijn spokesperson told Reuters that the company currently sells only a handful of corned beef and beef jerky with Brazilian origins each week.

Auchan France will also remove beef jerky products linked to JBS from its shelves. Carrefour Belgium and Delhaize supermarkets will stop selling Jack Link’s brand beef jerky.

JBS and Jack Link’s have a joint venture that produces jerky. Jack Link’s did not respond to a request for comment.

J Sainsbury Plc’s Sainsbury’s UK will stop sourcing its store brand corned beef from Brazil, but said that 90% of its beef is already sourced from the Britain and Ireland.

(Reporting by Jake Spring in Sao Paulo and Anthony Deustch in Amsterdam; Editing by Matthew Lewis)

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post