On June 13, 2025, JBS, the Brazilian meat giant, made its debut on the New York Stock Exchange (NYSE). The company’s shares closed slightly higher on their first day of trading in New York, drawing attention from NGOs warning of potential legal repercussions related to the controversial listing.
Shareholder advisors, NGOs, and legal experts have expressed concerns over JBS’s environmental practices and governance structure. ISS and Glass Lewis recommended voting against the listing, citing governance issues that could pose long-term ESG risks. Additionally, NGOs like Global Witness raised alarms about JBS facing significant legal liabilities, estimated at nearly $7 billion.
JBS contested the reported legal liabilities, emphasizing that the disclosed figure represents potential liabilities and not expected losses. The company clarified that not all potential legal proceedings are likely to materialize into actual losses, as per their statement provided in relation to the share listing.
NGO Global Witness and other environmental groups have criticized JBS’s environmental track record, particularly its climate strategy integrity. Despite JBS’s commitment to achieving net-zero emissions by 2040, concerns have been raised about the company’s lack of emission reduction targets and its continued growth in a greenhouse gas emission-intensive industry.
Experts like Ashley Thomson from Global Witness have labeled JBS’s US stock market debut as a significant event with far-reaching consequences for the planet. The company’s association with deforestation practices in the Amazon and other protected areas has sparked outrage, with accusations that JBS profits from cattle raised on illegally cleared land.
Mighty Earth has informed the NYSE that JBS’s listing may violate US anti-money laundering laws due to its ties to illegal deforestation in Brazil. JBS acknowledged in an SEC filing the challenges in monitoring the compliance of cattle origins with laws and responsible procurement policies.
As part of the US listing, JBS has adopted a new Netherlands-based holding structure, a move that Greenpeace believes could expose the company to legal risks in Dutch courts. Concerns have been raised about potential litigation that could impact JBS’s business model and investor decisions.
Despite the controversies surrounding its listing, JBS’s shares closed at $13.87 on the first day of trading in New York. JBS CEO Gilberto Tomazoni expressed optimism about the listing, emphasizing its role in enhancing the company’s access to global capital markets and creating long-term value for stakeholders.
The listing of JBS on the NYSE has stirred debates about corporate responsibility, environmental sustainability, and governance practices in the meat industry. As the company navigates these challenges, stakeholders continue to monitor its actions and commitments towards addressing environmental concerns and legal risks.
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