Finance
Nordic Fund Divests $45 Million From JBS on Amazon Concerns
- Nordea says JBS response to coronavirus also prompted decision
- Nordic fund is part of group pressuring Brazil on environment
Photographer: Dado Galdieri/Bloomberg
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The world’s top meat producer is starting to see blowback from investors over its approach to Amazon deforestation.
Nordea Asset Management said Tuesday it’s divesting from Brazil’s JBS SA “over its ties to farms involved in Amazon deforestation” after a new report which suggest the meat giant has illegal ranchers indirectly in its supply chain.