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World Bank urged to rethink investment in one of Brazil's big beef companies
World Bank urged to rethink investment in one of Brazil's big beef companies
The World Bank should reconsider its investment in one of Brazil’s biggest beef producers because of the industry’s links to deforestation and the climate crisis, according to two UN-appointed experts.
Minerva is Brazil’s second largest beef exporter, and some of its product is supplied, both directly and indirectly, by cattle farmers based in the Amazon rainforest.
predecessor in the post, the international law professor John Knox, said the IFC and other finance houses should ensure they were not contributing to industries fuelling the climate crisis, “including by ending their support for massive industrial beef operations that depend on deforestation”.
He added: “International funding that contributes to the ongoing climate breakdown, either by supporting fossil fuel projects or by supporting deforestation, is completely inexcusable.”
World Bank urged to rethink investment in one of Brazil's big beef companies
The World Bank should reconsider its investment in one of Brazil’s biggest beef producers because of the industry’s links to deforestation and the climate crisis, according to two UN-appointed experts.
Minerva is Brazil’s second largest beef exporter, and some of its product is supplied, both directly and indirectly, by cattle farmers based in the Amazon rainforest.
predecessor in the post, the international law professor John Knox, said the IFC and other finance houses should ensure they were not contributing to industries fuelling the climate crisis, “including by ending their support for massive industrial beef operations that depend on deforestation”.
He added: “International funding that contributes to the ongoing climate breakdown, either by supporting fossil fuel projects or by supporting deforestation, is completely inexcusable.”