JBS faces backlash over NYSE approval amid environmental concerns

The U.S. Securities and Exchange Commission (SEC) has approved Brazil-based meatpacking giant JBS for a listing on the New York Stock Exchange, sparking criticism from environmental groups, The Guardian said. JBS, the world’s largest meat processor, has long faced allegations of contributing to Amazon deforestation and misleading climate claims.

Activists argue that the listing, expected in June, could fuel further environmental damage by providing JBS with greater financial power. A previous lawsuit by the New York attorney general accused the company of greenwashing, though it was dismissed in February.

Despite pledges to clean up its Amazon supply chain, a recent investigation questioned the effectiveness of JBS’s tracing system. The company, which earns nearly half its revenue in the U.S., maintains its sustainability practices are robust and ongoing. The SEC did not comment on the decision, while JBS said the dual listing will support sustainable growth and benefit stakeholders across its global operations.