Nordea Asset Management has dropped JBS, the world’s biggest meat processor, from its portfolio, according to Head of Responsible Investments Eric Pedersen, reports the Guardian on Tuesday.
The decision was taken about a month ago. Over the past year alone, JBS has been linked to cattle supplied by Amazon farms involved in deforestation five times. Pedersen says that the scandals and JBS's response to them influenced Nordea's decision to exclude the company from its portfolios.
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