JBS S.A. said it plans to monitor its entire supply chain to combat deforestation in the Amazon by 2025. The world’s largest meatpacker has faced increasing criticism that beef production is contributing to deforestation in the rainforest.
The company has launched a $182.77 million fund to foster social and economic development in the forest. JBS said it plans to monitor 100 percent of its indirect cattle suppliers by 2025 using blockchain. “Currently, the company does not monitor indirect suppliers and no company does so. But we plan to close this gap using technology,” said global CEO Gilberto Tomazoni, adding its 50,000 direct suppliers are already monitored. The company plans to launch the system in 2021.
Norway’s largest pension fund said it will be watching for concrete results. “If this move by JBS can contribute to responsible and traceable supply chains, it is a positive step but we have to see the detailed evidence in practice,” the fund said.
The fund is one of many global investors threatening to pull out of Brazil investments if the country doesn’t act to stop deforestation.
