Brazilian beef and leather companies fall short in tackling deforestation, a study finds
The next United Nations climate conference will be held in Belem, the capital of an Amazon region where widespread deforestation has turned the surrounding rainforest from a vital carbon sink into a significant carbon source
BRASILIA, Brazil (AP) — The next United Nations climate conference, COP30, will be held in Belem, the capital of an Amazon region where widespread deforestation mainly driven by cattle farming has turned the surrounding rainforest from a vital carbon sink into a significant carbon source.
Now a new report concludes around 80% of Brazil’s leading beef and cow leather companies and their financiers have made no commitments to stop deforestation.
The study, released Wednesday by the environmental nonprofit group Global Canopy, highlights the country´s most influential beef and leather producers and processors along with financial institutions that have supported them with $100 billion. This amount is one-third of the annual funding that wealthy nations pledged to provide for climate finance in developing countries during COP29 last month in Baku, Azerbaijan.
“Although cattle is the single most influential commodity for deforestation and linked greenhouse gas emissions, the report ... reveals a picture of staggering inaction from corporates and financial institutions alike in Brazilian supply chains,” the study said.
