Bid by meatpacker JBS to join New York Stock Exchange faces opposition over Amazon deforestation*3

BRASILIA, Brazil (AP) — 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...more