Greenpeace International has raised concerns over JBS, the world’s largest meat producer, and its impending move to the New York Stock Exchange (NYSE) along with relocating its corporate headquarters to the Netherlands. The environmental organization has taken legal action against Dutch notary firm Loyens & Loeff, advising them to reassess their association with JBS due to its history of corruption, deforestation, emissions, and human rights violations. Greenpeace warns that assisting JBS in its restructuring could implicate Loyens & Loeff in the company’s controversial practices.
According to Dutch law, financial service providers like Loyens & Loeff must conduct thorough due diligence to prevent involvement in illicit activities such as money laundering and corruption. Notaries play a crucial role in ensuring corporate transactions do not aid companies with a track record of fraud or environmental harm. Greenpeace’s legal team has also notified the Bureau Financieel Toezicht (BFT) to scrutinize Loyens & Loeff’s actions in facilitating JBS’s expansion.
Daniela Montalto, a campaigner at Greenpeace UK, has criticized JBS for its environmental and human rights violations, emphasizing the detrimental impact of the company’s operations. JBS has faced scrutiny for its alleged involvement in deforestation in the Amazon and financial misconduct, with potential liabilities amounting to billions of dollars. Recent investigations have linked JBS to extensive deforestation in Brazil, raising concerns about its environmental impact.
Furthermore, a report by Greenpeace Nordic highlights JBS’ significant methane emissions, comparable to major oil companies, and questions the company’s transparency regarding emission reduction targets. JBS’s growth strategy in the meat sector has drawn criticism for its environmental consequences and lack of accountability.
Richard Brown, legal counsel at Greenpeace International, emphasizes the responsibility of notaries like Loyens & Loeff to prevent complicity in corruption and environmental degradation. Greenpeace calls for regulatory intervention to block JBS’s listing on the public markets and urges the Netherlands to take a firm stance against companies promoting destructive practices.
Montalto stresses the need for governments and financial institutions to halt the expansion of agribusiness giants like JBS, citing the devastating impact of industrial meat production on deforestation and climate change. Greenpeace advocates for stricter oversight and the refusal to support companies contributing to ecological degradation.
In conclusion, Greenpeace’s efforts to challenge JBS’s listing on the NYSE and its headquarters relocation underscore the growing concerns surrounding corporate accountability, environmental sustainability, and ethical business practices. The organization’s legal actions highlight the need for greater scrutiny of companies with a history of environmental violations and call for regulatory measures to curb destructive business models.
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