Brazilian meat processing giant JBS S.A., the largest meat producer in the world, has gained approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on the New York Stock Exchange (NYSE). The company is set to hold a shareholder meeting on May 23 to vote on the dual listing, with trading potentially starting by June. JBS aims to expand its global presence and attract a wider pool of investors. Key shareholders, including J&F Investimentos and BNDESPar, have decided to abstain from voting, leaving the decision to minority investors.
However, this move has sparked criticism from environmental groups and lawmakers due to JBS’s history of deforestation and ethical concerns. The company has faced allegations of illegal deforestation in the Amazon and was fined $280 million for bribery in 2020. Activists argue that giving JBS access to U.S. capital markets could worsen environmental damage and undermine climate progress. Despite these concerns, JBS insists that the listing is part of its commitment to sustainable practices and will strengthen its position in the global food market. More